Why so long to close?

Get expert opinion. This is the place for new questions to be posted.
10 posts Page 1 of 1
 
 

Dougie

User avatar
Posts: 217
Joined: Thu Oct 30, 2008 7:11 am
Location: United Kingdom

Post by Dougie » Fri Apr 17, 2015 7:10 pm
Hi all

Paid off the IVA in October 2014 via F&F offer, still not had closure certificate from PJG.

It's delayed due to the dreaded PPi process but I'm not getting any progress updates despite lots of chasing. I last heard in January that the lenders had until mid March to respond but I've not heard any more and not had a reply to any of my recent emails.

Anyone else had experience of this, why does it take so long to sort out if I had any PPi or not?

Feeling frustrated!
IVA Accepted - Sep 2009
F&F Accepted - Oct 2014
CC Received - Jul 2015
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Apr 17, 2015 7:18 pm
Hi Dougie. Are you still with PJG or did you get transferred to Creditfix ?

A lot of any holdup is down to the tardiness of the lenders in processing the claims -- which in turn is down to the sheer numbers of claimants.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Dougie

User avatar
Posts: 217
Joined: Thu Oct 30, 2008 7:11 am
Location: United Kingdom

Post by Dougie » Fri Apr 17, 2015 7:47 pm
Still with PJG, if lenders had until mid March to respond are they obliged to comply?

My main gripe is the lack of progress updates, I just like to be kept informed and it irritates me when companies don't reply to emails
IVA Accepted - Sep 2009
F&F Accepted - Oct 2014
CC Received - Jul 2015
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Apr 17, 2015 8:07 pm
They are expected to comply. If they don't the only recourse I am aware of is for the IP to go to the F.O to get some pressure put on -- however, these days, that is also a slow process !

I know what you mean regarding responding to emails -- even a simple, "Thanks we will get back to you soon" helps and only takes a few seconds !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

MrsR

User avatar
Posts: 1201
Joined: Mon Oct 31, 2011 9:30 pm
Location: United Kingdom

Post by MrsR » Sat Apr 18, 2015 12:46 am
Hi Dougie,

I was told my IP (Creditfix) that creditors must comply and return documents within a set time period, as all creditors will be wanting their dividends. If they fail to do so, they have a follow up with a second letter and again if no response, they are apparently no longer eligible for their dividends, and they get reworked and distributed amongst the remaining creditors.

I was told that Creditfix allow initially 4 weeks and a follow up of 2 before final dividend distribution.

They creditors all know what date the IVA isbdue to end after all and should expect the paperwork and get it completed and returned asap !!
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!!
 
 

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm
Location:

Post by Adam Davies » Sat Apr 18, 2015 8:15 am
Hi

Are you sure that you are still with PJG and not creditfix ?

Try writing to your IP and ask for an update with a time frame, this is a reasonable request and should be answered

Regards
Andam Davies
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sat Apr 18, 2015 9:48 am
Mrs R. The scenario you describe is in relation to the distribution of dividends. I think ( and may have got this wrong) that the hold up is in resolving PPI claims.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Dougie

User avatar
Posts: 217
Joined: Thu Oct 30, 2008 7:11 am
Location: United Kingdom

Post by Dougie » Mon Apr 20, 2015 5:58 pm
Well, pleased to say that I got a call from PJG today, PPI is still dragging but they now have enough information to be able to close my IVA as long as I sign a 'deed of assignment' forgoing any claims to PPi and handing them to PJG.

Delighted to hear this and paperwork for me to sign is due in the next few days, with any luck I will have my completion certificate before too long.
IVA Accepted - Sep 2009
F&F Accepted - Oct 2014
CC Received - Jul 2015
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Mon Apr 20, 2015 6:09 pm
Good news Dougie -- the end is in sight :-)
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

MrsR

User avatar
Posts: 1201
Joined: Mon Oct 31, 2011 9:30 pm
Location: United Kingdom

Post by MrsR » Tue Apr 21, 2015 6:44 am
I was informed that it can also apply to the PPI paymenta too Foggy, although not sure how that can be true if they still stake a claim of the PPI years after an IVA has finished !
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!!
10 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”