Is there a required time between IVA failing and IP issuing Certificate of failure? The IVA has beenfailed for 4 months but have not received certificate.
The certificate should be issued once the IVA has officially failed. Your IP may have to get approval from creditors first and may also have to wait for three payments to be missed before they can start the failure proceedings.
Thank you Michael. 6 payments have been missed. they wrote to say they were going to fail it months ago. I rang to see what the hold up was and they said it takes 6 weeks to produce final accounts but its been weeks since that phone call. Just wondered if there was a rule on length of time between them saying they were failing it and sending out the certificate of failure. I feel in limbo.
