I was in a 6 year IVA with Money Debt and Credit. In year 4 I had to send them a copy of my mortgage statement and a house valuation, which I did. I heard nothing after this. It was then transferred to Grant Thornton. I paid my last payment in Sept 2014 and since then I have been trying to get a completion statement out of them. I spoke to them today and was told that they should have requested a valuation and statement in March 2014, but didn't. They are now saying that I have to supply this information. I am annoyed as I would have supplied this information in March if asked. Also, my contract with Money Debt and Credit stated that I had to send the info in year 4 which I did. I also never signed an agreement with Grant Thornton. Are they within their rights to request this information now?
Hi Emma. Yes, they are within their rights as Supervisors of your IVA ( they purchased your case along with many others). Equity has to be addressed as per your agreement and completion cannot happen until this is done.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I just don't understand why they did not request this information in March 2014 when they told me they should have. Also they only asked me for this when I threatened them with legal action. It is not the fact that I may owe more money due to the equity but the point that they did nothing until now. I could have continued paying and be almost finished now! That is my issue!
I am sure that if you have been saving the monthly payments in lieu of equity that they would take this as a lump sum then you should be done. I am sure they want the money not just 12 months.
