Hi
A full and final offer from my IVA was accepted by my creditors in dec 2013, I have yet to receive my completion certificate from DFD even though I have chased numerous times. I was told that my certificate would be issued even though PPI are still outstanding. My question is can a IVA still fail even though a full and final offer has been accepted by the creditors.
Thanks
If the F&F was accepted and any monies paid over, then, unless some significant problem arises like unpaid inheritance, undisclosed income, or some such, it is just an administrative waiting game.
A full and final, though, isn't as "final" as you might think and you are still bound by the IVA ... so any lottery win or the like should be paid over.
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,
So basically I can't move on with my life until DFD decide it suits them to issue my completion certificate and the creditors have accepted money owed to them as a final offer on the debt.
It ridiculous that there is no regulation that these things should be issued within a certain timeframe. They don't respond to emails or phone calls and when I do get through I just get told its being dealt with. I just want to move forward after the last 5. 5 years.
I agree with your thoughts, it is appalling that people can't move on once they have completed their obligations.
There really should be a time frame set by the Insolvency Service
Hi sorry to jump in here but I am trying to post a question but cant get past the image tx box:-/
Hi
Im about 18 months in to a 5 year iva , my original debt was £17200, I pay £150 per month. After a few PPI payouts I currently owe my iva £7500, I am struggling to keep up repayments and have been asked by my iva if I could ask family to help offer my creditors a one off payment. Taking into account if I finished my 5years I would be paying off £9000 and the rest would potentially be written off, now that I only owe £7500, what do u think would be a good offer?
Thank you kindly
Jennifer. Over the next 42 months the creditors will be looking at recovering a further £6300 assuming there is no equity to play with.
With no mitigating circumstances they will want as near that as possible --- I would make an offer of £5k with the possibility of having to increase to £6k if they refuse.
Unfortunately, at £150 per month, you are really at the lower end of a viable payment and, although your IP might have the discretion to reduce, any such reduction would make the IVA unviable.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
