I entered into an IVA in 2011 with a company then called Premier Solutions. I agreed to pay £300.00 per month for 3 yrs and then make a final payment of £35K. Two years into this my mother passed away and left me some money. I contacted Premier Solutions who had since renamed as Nicola Francis & Associates and advised them of the windfall. They immediately insisted in receiving all of the funds. My mothers solicitor did not agree and was not an expert in this field. She did however agree to pay them £100K which was over and above the monies required to clear my creditors. During the term of the IVA in the beginning communication with the administrators were ok to a point. However after receiving the monies I have not from them despite my continuous emails, letters and telephone calls all of which have been ignored.
I do not know what to do or who to turn to as I have also looked on line for the company and they are still advertising with a telephone number that is not theirs. Can you please advise what I can do now as I am still not sure if all creditors have been paid and have not received any monies back from the £100K provided.
Their licence appears to have been suspended for 18 months in the public interest.
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.
Any money paid into IVAs is insured so even if money has gone missing then you will not be out of pocket. I agree with Lifenoteasy that you need advice and perhaps the regulators would be a good place to start.
Thankyou all for your advice, lifes not easy, yes it is that Nicola francis as a result of what you told me I have discovered that all of her work was taken from her and handed to a company in London called Griffins. I was in debt for £62.000 but I gave her £100.000 and paid £300 a month to her company for 3 and a half years. She has never been in touch with me. I have spoken to Griffins and they say my debtors were paid thank god, but her paper work is a mess and it is going to take time to sort it all out. But I hope as Michael said that she should be insured. Many thanks to you all for your advice. John.
I hope that you can get it all sorted and it sounds like you are in good hands now given the speed of the response.
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.
