Section 26 of the Insolvency Act

[Soulgrowth]

Hi everyone ... sorry I haven't been around for a bit ... but I've been busy with Open University work ... will be back soon, promise

I am just drafting a letter to McCambridge Duffy to ask them to explain to me why they are unable to profer my full and final offer .. i.e why I am having to go through the process of them defaulting me on the IVA before I can instruct a new IP to do it for me.

Can anyone remind me, is it section 26 of the Insolvency Act that allows for modifications to be made to the existing IVA? ... I just want to get my facts right! I think Mike B posted this information for me a little while back.

Thanks in anticipation

Debbie xx

www.familyceremonies.co.uk

www.soulgrowth.co.uk

[Adam Davies]

Hi Debbie
I can find this reply from Cybus,hope it helps

I have to ask the question 'Why?'
Bankruptcy is not your only solution.

Why could your Supervisor not have written to the creditor concerned and advised them of the 'Effects of Approval' of the arrangement?

Correct me if I am wrong but the arrangement once approved, binds all creditors who were entitled to vote at the meeting and those who would have been entitled to vote had they had notice of the meeting.

Your overlooked business liability could have been brought in to the original arrangement.

I believe you have been ill advised to terminate the IVA and start over.

If it is not too late, you should ask the original Supervisor to Review Section 260 of the Insolvency Act 1986 and explain why it does not apply to the overlooked creditor and why they could not have been brought in to your arrangement.

I would be genuinely interested to know what the answer is. Seriously.

Is the new IP with a different company?


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

Hi there

I did speak to my contact within that firm and they agreed to look at your case. Have you had any form of contact from them recently, and if not let me know if you would like me to chase this up.

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

[Soulgrowth]

Ahhhh ... thanks Andy ... you are a star. I was looking for it in section 26 ... and it's 260!!

Melanie, it's typical IP ivory tower stuff (present company excepted of course) that us mere minions have to endure. I've been trying to speak with my IP's secretary for two weeks now. I am not worthy of speaking with my IP (Emma Holmes) directly ... indeed, I have never been allowed to speak with her. I can only speak with her secretary ... who is never in when I phone and when I leave a message to ask her to tell me when I can phone to speak with her ... she still isn't in even though she said she would be

I have £40,000 sitting in my bank account to offer a F&F of £32,000 and McCambridge duffy are defaulting me on my IVA!

Apologies if I sound a bit bitter

Debbie

www.familyceremonies.co.uk

www.soulgrowth.co.uk

[MelanieGiles]

Debbie

Yet again I will bring your post to the attention of someone I know at that company, and ask them to contact you directly in this regard.

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

[Soulgrowth]

Many thanks Melanie ... hoping to see you in Cardif, work permitting, to give you a big hug

Debbie

www.familyceremonies.co.uk

www.soulgrowth.co.uk

[MelanieGiles]

Look forward to catching up then Debbie.

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

[catullus]

Yet again the ugly complaint about being unable to talk to your IP.

I hope Melanie can sort out the lines of communication but to anyone else in this situation, I drafted a communication a while back, that would probably be best sending by email, but the post will do, that is intended to make your IP take notice.

Here's the link

http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=4966

Dear Mr/Mrs/Miss

You may be aware that I have tried to contact you on a number of occasions by telephone to discuss the progress of my case.

Whilst I appreciate that routine matters can be dealt with by your staff, the issues that I wanted to discuss with you are, in my opinion, of sufficient importance to the progress of my IVA to merit your personal attention.

I have been informed (by named individual if you have it) that it is your policy not to discuss case matters by telephone with your IVA clients. I should be very grateful if you would confirm to me in writing that this is, indeed, your policy or, alternatively, the circumstances in which I will be able to discuss the progress of my case with you.

Yours sincerely

[MelanieGiles]

It's a very good letter and ought to be made a standard document on this site.

Andy - is there scope for a standard documents/letters area on the site - we could also put some creditor letters which clients could perhaps download and use when they are being pestered.

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

[Soulgrowth]

This is a great idea and the idea of a 'library' of such resources, as I remember, was discussed at the last 'Frugal Friends' meeting.

Debbie

www.familyceremonies.co.uk

www.soulgrowth.co.uk

[ray_a]

Hi Debbie

Sorry to hear about your news and hope this gets sorted out.

My IP missed two creditors out when we had copies of the spreadsheet showing them on our list!

We wee told that we should have checked the proposal carefully.

However when the IVA was closing our creditors had to prove their debt and it got sorted out then.

Why has this not been suggested by your IP?

I sometimes wonder if a good number of IP's just want their money and run!

[Adam Davies]

Hi
Yes I will look into having such a section
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Adam Davies]

Hi
Have a look at this
http://www.iva.co.uk/iva_documents_ressources.asp

It's located on the left hand side under IVA documents

If anyone has a standard letter/template or other info that may help others please email it to me[using the contact Andy link]and I will load it onto the forum.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

Great idea Andy. We can look at some more of these when you come to me for the day on 11 Dec.

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

[Soulgrowth]

Hi Ray

It's a bit complicated in that the debt that arose after the IVA was completed was a old business liability including an ongoing liability for a lease. When I approached my IP they never bothered to look into seeking any solutions and just suggested that I stop paying my (then very succesful) IVA payments and declare bankruptcy. It was only through the help of a bankruptcty specialist firm that we were able to seek a solution of offering a full and final.

My main gripe as things have developed is that, to my mind, the IP who set up the IVA, a very reputable firm, to me wasn't doing their job as an 'Insolvency Practicioner' ... only seemingly interested in setting up an IVA for me ... when it came to seeking solutions to avoid insolvency and advising me on my financial psoition and options they didnt want to know ... too much like hard work I suppose. Therefore I feel they have negated on their professional standing as an 'Insolvency Practioner' ... only seemingly interested in being an 'IVA generator' ... whateverever happened to professional standing? ... but maybe I'm just a bit bitter ... because if it had been up to my 'Insolvency Practioner' I would by now be bankrupt and lost my home

Debbie

www.familyceremonies.co.uk

www.soulgrowth.co.uk