Hi all, just thought I would update you. Complaint forwarded to Head of Quality and risk management. Today recieved response yeah hay she has after discussion with our supervisior agreed that the equity will be treated as £5000 each so that is it we are now being passed to closures. No extension!
Basically they still maintained that it should be looked upon as a single amount but accept that the proposals could have been made clearer which is why and I quote "your supervisior has decided to apply a £5000 de minimus level to your joint interest in the property and thereby allow the case to progress to closure".
a massive thanks to Foggy, Lifenoteasy and anyone
else who assisted with this we owe you all a massive debt of gratitude thank god I came across this forum we would like many others without this forum have just accepted what was told to us and been none the wiser. You are all amazing!!
Apologies for the editing so excited just re read post and noted all my spelling mistakes!!!!
Last edited by vlc1507 on Sat Apr 25, 2015 3:24 pm, edited 1 time in total.
Thanks everyone, we are as I said extremely grateful for everyones input with helping us get it resolved.One question what does the closure process involve and are we looking at six months before certificate?
The closure process shouldn't need any input from you, unless they uncover amy glitches. They just go over everything to make sure nothing has been missed and finalise payments to creditors.
GT regard the 6 months maximum as the actual time the process should take and routinely take the full 6 months to issue the completion certificate.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks Foggy, sorry one other thing can we cancel the direct debit to them as we have letter from head of quality and risk management saying it is going to closures or should we get confirmation from the closures team?
Hmmm .... I asked them for confirmation when my time came and they never replied to the question, so I cancelled it anyway on the grounds that I could pay it in if they asked for it, but it would be next to impossible to get it back if I had overpaid.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Also make sure that all PPI elements have bee resolved or that you have signed a deed of assignment.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Thanks all think I will ask for confirmation just to be sure. No ppi to deal with signed deed of assignment back in 2013 so hopefully things just get closed without any issues.
GT were trying to say that as their equity in their property was more than 5000GBP in total this meant they had to equity release, whereas the equity has to be divided by two (as the couple had two interlocking IVAs)and as such the equity each was less than 5K so it shouldn't have triggered the equity release clause.
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
Hi Longslog101 and thank you for your help and previous input with this and yes I can only echo the power of this forum is amazing couldn't have done it without you all.
Fingers crossed for a quick closure certificate now!!
