IVA Questions again

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
 
 

sostressed

User avatar
Posts: 36
Joined: Mon Oct 29, 2007 2:35 pm
Location:

Post by sostressed » Thu Jan 17, 2013 3:40 pm
Grant Thornton have not written to me requesting a mortgage valuation etc for my property and I only have 2 months left, is this the norm - spoke to them this morning & the lady asked me to send them in but should this not be in writing.. should I cancel my direct debit at the end of feb when this is the last payment or wait to hear from them ??
 
 

Foggy

User avatar
Posts: 33395
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Thu Jan 17, 2013 3:50 pm
Well done on getting this far!

Many,if not most, IP's will write requesting valuations etc., but, the bottom line is that it is your responsibility to comply with the terms of your proposal. I imagine it will be outlined there when the valuations should be applied for.

As for the direct debit, you will need to check that this IS the last payment before cancelling. But, again, they will most probably need a nudge from you.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

sostressed

User avatar
Posts: 36
Joined: Mon Oct 29, 2007 2:35 pm
Location:

Post by sostressed » Thu Jan 17, 2013 4:02 pm
Many thanks Foggy, if I dont send them the information and they dont write, will my IVA fail because of this
 
 

Foggy

User avatar
Posts: 33395
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Thu Jan 17, 2013 4:08 pm
It could do, sostressed, but most IP's will be on your back before it got to that stage.

However, delays might hold up closure (and GT don't need more excuses for that!).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Thu Jan 17, 2013 8:44 pm
Foggy is right - but it is up to IPs to ensure that cases under their control are correctly supervised so I am suprised you have not had a prompt on this from them.

Get the paperwork in to them now as a matter of urgency, to avoid falling into default on this particular point.
Regards, Melanie Giles, Insolvency Practitioner
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”