Passed around like a hot stone..help please.

[g60]

well for now they have said the can give me a letter to say it is completed, and it will be 6 years in October, but as said this is no good if i need to hunt down any other thing on the reports, defaults etc..i have just requested 2 reports from the main 2 and will get one of call credit also, i will then go through it. but will have to wait untill october i think to start clearing it if the iva is still showing, it was if i had any other defaults on i could get it sorted as they are knoewn to take longer as you all know, etc,,,

[Rob1171]

Even if the defaults fall off your credit history there will still be a public record showing you as being in an IVA. If your name is still on the register as mine is.

[Michael Peoples]

I know I have not been posting much but I would just like to say that our firm are closing cases as normal. In the opinion of our IPs the IVAs are fixed term agreements which have end dates and cannot be kept open arbitrarily. We have the same issue with VAT as every other company but this will be dealt with on a case by case basis as and when the time comes.

The are issues concerning trusts etc and the original IVA which can apply [although I am no legal expert] and these are sufficient to address any VAT monies post IVA closure. The tribunal decision affects cases going back to 2007 and many cases have been closed to which this applies, so suspending closure to current cases seems unfair.

Finally, if the IVA is not closed the client is probably still open to the terms and conditions of the IVA so bonuses, overtime, windfalls and the ban on credit facilities would still apply.

[kallis3]

Michael, it's nice to see you again. You have been missed.

[Michael Peoples]

Thanks Jan. Summer time is always busy with staff holidays etc but this one is unusually busy. I don't want to just dip and give half answers and then disappear again but will try and get posting a bit more as I miss it too.

There are plenty of experts on the site who give out excellent advice on a daily basis but there are always some issues where opinions vary, such as this VAT decision. I like to stick my tuppence worth into these type of threads when I can.

[jessicarabbitgirl]

Thanks for the info Michael, what do you suggest I do next?

Its a good point about whether or not I am still in the terms of my IVA, I am finding this very worrying [:(]

[Michael Peoples]

I think you should take it up with the IP. You will need to ask them on what grounds have they kept the IVA open and seek indemnity against any breaches or conditions of the IVA. IVAs cannot just be kept open indefinitely as this could potentially invalidate them. Many have specific conditions as to their length and there are potential problems ahead.

If your IP is prepared to be personally liable for anything that happens as a result of the IVA not being closed I would request this in writing.

[jessicarabbitgirl]

Right I am on it, email to be sent in the next few minutes, will let you know how I get on

[Rob1171]

I have just sent them a couple of emails first one asking for a copy of the letter they will write.
The second asking if I am still open to the terms regarding overtime and bonus pay.
Will let everyone know what I get back.

[jessicarabbitgirl]

Glad we can fight this one together Rob

[g60]

Thank you also, just crazy, whe you think your sorted another thing crops up, i just want some adivce i can go back to them with, like get your ship in order and sort it becuase etc.....i just want to clear my history and move on with my life, i will early next year be looking at buying a house etc..and i do not want any hold ups, on this or anything else wear credit is involved,

[g60]

In tearms of lenght what time would i then get problems, if it is 6 year in October how much longer should it be, i sort of understand what you mean as the people want thier money under the agreement but if it is taking longer that is a breach in tearms og what they agreed to i suppose..

[g60]

Michael as said when i rang them today they have said it can not close down yet due to VAT basically and something to do with paying it or not etc...thats about as much as i got out of them..

[Rob1171]

My agreement has a clause in it that states that it must not take longer than 72 months for the IVA to be completed. So I assume that if tenon have not closed it by then the creditors will call it into breach.

[jessicarabbitgirl]

Just finding it really upsetting, need to clean up my rating asap as when I go back to work I will need a credit card for my expenses.

I could already be deemed to be in breach of my IVA for going overdrawn or applying for credit.

Think its unbelievable they didnt at least contact us to tell us this was going on, the fact that I had to chase to find this out is outrageous!