no sign of my Certificate of Satisfaction

[our7]

I have had an IVA and it was paid in full 01/07. It's now 10/07 and no sign of my Certificate of Satisfaction. I have been given various excuses for this, so much so I am looking to complain to the IPA. How long should this take to receive? I have also heard the company who is managing this is looking to sell there IVA business. Does this affect me as well?

[MelanieGiles]

This should be issued as soon as your case is closed, which should take no longer than 3 months from the date of your final payment. Which company are handling your case?

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[our7]

Melanie,

Got a copy of my annual report which states Nominees fee taken in full £3k (should have been £2k). And no monies paid to anyone, 2 claims remain outstanding and therefore unable to pay any dividend. The company is DebtMatters. I want to know how I stand legally as well, as if I complain through the IPA it will take so long. I have a good mind to apply to a court for a Warrant of Execution to retrieve this.

Many thanks

Michael[:(!][:(!]

[MelanieGiles]

Hi Michael

How long has your IVA been running for, and was it a full and final settlement? The company who are handling your case have recently announced that they are pulling out of the IVA market, but I am not aware of any plans to sell the business - which would not affect you as your case would be transferred to a new IP.

What do the terms of your IVA say with regard to case closure and timescale, as the IP may be acting correctly albeit I can understand your frustration.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[our7]

Hi Melanie,

The initial meeting with our creditors was 5th Sept 2005. The payment made was a full and final settlement from us Jan 2007. My source came from this article: http://www.hemscott.com/news/comment-ar ... o?id=36088

regarding the sale of DM.

As for timescale nothing has been given. They informed us of a deadline to when the creditors could claim of June 2007. To date no monies have been paid to creditors only DM's fee's.

Regards

Michael

[MelanieGiles]

That is an interesting article. Thank you for posting it on the forum.

Your case should have been closed well before now - and as your Supervisor is legally obliged to file a second annual report by 4 November 2007 I imagine that this will be a combined annual and final report. There simply should be no creditor claims outstanding some two years after the IVA was accepted by creditors as ample time has passed for this to be concluded. I suggest that you call them at very frequent intervals over the next couple of weeks in order to enquire as to progress.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp