You will need a redemption statement from your mortgage provider, so they can calculate equity. if you are claiming less than £5k so avoiding the extra 12 months.
How have you arrived at your offer figure -- may I ask ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
We are going to offer £7500. Our monthly payment are £433 × 24 = 10392. ( 12 months remaining then 12 months equity) can only get £7500 so would be £2892 under the full amount we would be paying if it went to the end.
Krif wrote:We are going to offer £7500. Our monthly payment are £433 × 24 = 10392. ( 12 months remaining then 12 months equity) can only get £7500 so would be £2892 under the full amount we would be paying if it went to the end.
Ah right -- sorry -- I was a bit worried, thinking you were offering £2892 ! I think, considering the issues as well as the savings they would be making on 2 years administration, that £7,500 would be a good offer.
As you are not contesting the existence of equity I would suggest just providing the offer and third party letter at the outset --- they do not really need to go through the valuation exercise (although you will have to comply if they do wish to waste everyone's time)
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Can we just send the offer and the 3rd party letter in or are we best to call them first.
We have just sent our income and expenditure in for review so assume they won't need another one.
Personally I would call them first --- and send the paperwork and scaned documents by email (so they get them right away and can get started --- also, if they "lose" them, it will be easy to resend). My IP's ( two of them) never asked for hard copies, but yours might.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Finally got through to someone after trying all morning.
She won't do anything she's just passing it onto a different department who will call me back in 14 working days so that's 3 weeks. They will then tell me what paperwork I need to send them and do another income and expenditure even though they have just done one.
I asked if could just send the offer in writing she said no got to wait for them to call.
Sounds like they are just dragging it out to get more payments.
Send the request in writing and email the IP directly. Ask for the meeting to be called in line with the terms and conditions otherwise make a formal complaint. IPs usually have to call a meeting within twenty one days of a written request so your firm may be stalling you and a letter/email will force them to speed up.
Good Grief --- that is a load of male bovine excrement !! Talk about making a simple thing complicated !!!! Get in touch with Laura Harrop (as per quoted message).
You could lodge a formal complaint with the firm and, if no joy, this can be escalated to their regulators as such delays are totally out of order.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I don't have a name or contact details for my ip. I have a name in the paperwork for someone who over sees it but no contact details for them.
When you call there are no options to get through the a complaints department.
Krif wrote:I don't have a name or contact details for my ip. I have a name in the paperwork for someone who over sees it but no contact details for them.
When you call there are no options to get through the a complaints department.
The name of the IP will be on the Insolvency Register and they will be named in the Proposal (Supervisor). Have a look on their website for their complaints procedure. If you can't find it ask them -- they are obliged to tell you.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
