IVA - Early Settlement - HELP!!!!

[kayjays]

I have been in a joint 5yr IVA with my husband for just over 2 years now. We pay £240/mth. We are now in a situation to re-mortgage our property and settle the IVA early. We asked our IP for a settlement figure and was given £18k which can be covered in the re-mortgage. We have tried numerous times to contact our IP but are always advised that they are busy and will call us back. This has been going on now for nearly 2 months. We are afraid that we will loose the mortgage offer that is currently available.
Can anyone help??


kayjays

[Andy2]

Did your IVA contain an equity clause in year 4/5 ?

I must say I did not think IPs could just "give" a settlement figure - I mean it is down to the creditors to accept at a variation meeting and nothing is certain. Perhaps this is why the IP is suddenly unobtainable !

[MelanieGiles]

Hi kayjays and welcome to the forum

Insist the next time you ring you speak to your IP personally. Do not be fobbed off by a member of staff, and also ask for the IP's e-mail address. Send an e-mail to them and ask for a read receipt - and express your concerns at not receiving a phone call back. Make sure that you make it clear that their inaction may be jeopardising your mortgage, and that you will inform the creditors directly if they do not start co-operating with you.

IP's (including myself) are extremely busy people at the moment, but should always take time to speak to the people who are contributing to their income.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[tracy.h]

Hi Kayjays
Welcome to the forum,it must be very frustrating for you when you can finaly see the end of your iva in sight.
Have you tryed emailing or send a registered letter just so you know your offer has been recieved,it seems strange that after 2 months you have not been able to speak to your ip at the end of the day not only are they working for your creditors but also for you and being paid to do it,i would keep ringing and put your offer in writting im sure you will eventualy get the response you need.
Good luck let us know how you get on.

Tracy

[tracy.h]

Sorry Melanie posted at the same time

[Andy2]

Have you checked your IVA to see if there was a revaluation in year 4/5 ? Have they given £18K as a potential settlement figure that can be forwarded to the creditors?

[kayjays]

Many thanks for all your comments. I have now been in contact with my IP and hopefully we can get things sorted out.

kayjays

[tracy.h]

Glad you can finaly start to sort things out.
I really do wish you well,let us know how you get on
Good luck

Tracy