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.
Very sorry to hear this, I am sure someone more able to advise you will contact you, the main thing is not to worry ok, always ways to sort these issues out
Sorry to hear that you have both been unwell. Debts can effect people in a lot of different ways. Unfortunately.
I would speak with your IP. Ultimately you would have recieved documents and told to read them thoroughly and then sign when you were happy with the content, so from their point of view, you signed off these documents at proposal stage and therefore have accepted the content.
We were asked to take days to review, read and review and read again befite returning them fr submitting to the meeting.
I hope that your IP will be able to resolve the issues for you and get you on track and that you feel better soon.
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!
Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA
Completion Certificate received- 30th April 2015!!
Brrrr chills down the spine, what an unpleasant situation.
I'm no pro and only offer my personal thoughts on this.
I agree with the comments above that there were obligations on you to ensure the statements in your individual IVA's were accurate, but let's face it as humans when we are in a dark stressful place rational thinking isn't always the first thing that comes to mind, bolting for the only light at the end of the tunnel is because you have faith that what you have communicated has been understand correctly. So, lesson learned you won't make that mistake again.
For me, what would make this an event or a non event (don't mean to sound flippant) would be, the creditor who is contesting this, are they a major creditor amongst all your other creditors, I.e. If they had voted against it would it have been enough to overturn the 75% of creditors (by value) ? If not I personally feel there I not much to worry about in terms of over turning the IVA.
Are your IVA's interlocking ? So they were presented at the same time to all creditors ?
Are the creditors who say they didn't receive a copy of the proposal listed in your proposal/agreement with your correct account numbers with the firm ? Thus reducing reliance on the names as account numbers identify people also.
Who is the angry creditor?, the one who is opposing, are they one of the TIX or watch portfolio managed companies ?
When you did your recorded call accepting the IVA I'm guessing you were asked to confirm your full names and any other names you have been known by, so the IVA firm should have that on tape, which again would show you're note hiding anything assuming you answered it all correctly, the paperwork cut mitten will have had a name section and any other names known by, I assume you filled this in all correctly ?
If you have given all the correct information and proof of the debt by the creditor to the IVA firm who sorted this for you then I don't really see what grounds the angry creditor have to go on.
If all the correct info is in the proposal it will probably boil down to were they notified or weren't they notified he said she said between the creditor and the IVA firm, hopefully the IVA firm will have accurate records of who was sent what, for example if there were replies from other creditors etc.
This is just my layperson view, hopefully one of the individuals who specialise in the issue may be along to offer more advice.
Personally I would work with the IVA firm, hopefully you have copies of everything you signed and sent back, but if you don't I'd ask your IVA firm for a copy of your paperwork you have submitted.
Good luck and chin up, keep us updated I will watch with interest.
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
Thank you for your reply. I have edited my original queston and further replys as I believe( and this sounds paranoid) I am being harrassed by the creditor. dont want any fule on the fire
Last edited by Diane.59 on Thu Mar 19, 2015 8:07 pm, edited 1 time in total.
It does seem like a long shot, if the company who are being awkward are not worth more than 25% of the total debt covered by the IVA and all others creditors accepted the terms of the IVA then the IVA would have gone through even with their rejection as I understand it, might be an issue if someone else had rejected it ?
If they have proof of posting to the company who say the didn't receive it I don't think you have anything to worry about.
That's my take on it, I wound waste your precious own money on a solicitor, that is just my personal opinion as a reader of the forum.
Regarding IVA, I don't think you can have joint ones, only individual ones that are interlocked, so they get treated as one, I.e.nyou both will have signed separate proposals.
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
The creditor won the case. Overturned no iva at the moment. The iva company was foind to have not dealt correctly with the full name on the iva and they had not given the creditor any notice of the meeting. The iva company and us have to re propose proposein 14 days ,clock ticking .as the iva was interlocked does this mean my part is also failed? Looks like we may becable to get some money from a pension to pay sone of the debts off. Would we be better paying off and no iva in the future as we appear to have no ica right now due to the iva messing up. ?
You could propose a one off payment IVA, but need to discuss this with your IP. Do not, however, start to draw any of the pension pot down until agreement is reached. If you draw any funds prior to this the creditors can go for it as an additional payment.
Terms on interlocking IVA's do differ --- with mine the failure of one automatically failed the other. Awkward one this, as your IVA didn't actually fail -- but never existed !
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. It is very complicated.Do we have to go with the same company would you know?Have lost faith in these as no communication since last week and the new creditors meeting was supposed to happen in 14 days so thats next Tuesday.
The creditor did agree to a new proposal being put forward but can it be another company? if the IVA has been revoked are we possibley free to move companies as it was the Ip mess up too
You will have to ascertain the position regarding the other interlocked arrangement before thinking of moving firms.
The problem with going elsewhere is that you would have to start from the beginning again, whereas the current company should have all they need to propose another IVA right away. I do find it strange that you have been told to re-propose in 14 days, as the creditors are entitled to 16 days notice --- which blows you out of the water right away !
I understand that you might have lost faith with the current company, but, without knowing who they are, I cannot comment on whether I think it might be a one off or whether they are habitually somewhat slap-dash. I would have thought, having caused all this furore, that they would be falling over backwards in their attempts to put matters right !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It may be better to propose two separate IVAs rather than an interlocking one. At least then one could be approved even if the other is not. However your IP may have had an indication from the dissenting creditor that they will accept so you really need to find out from them what is happening.
