handyman wrote:I think I would have asked a different question. My wife's nominee and supervisor are from the same IP. The nominee gerrymandered my wife's income and expenditure statement to meet the requirement of the IVA rather that use her actuals. The supervisor is now questioning her review figures as they do not reconcile to the bank statements. My experience of the same IVA is similar as the figures put forward by the IP meant that the proposal failed, I had to fight tooth and nail to get them changed. There were still inaccuracies but as one feels under immense pressue, realistically you just want to sign and get protection from creditors.
Hello, I'm one year down the line of an IVA.I have had a pay rise and my superviser is already gunning for a share of it. I have also had increases in living costs in the past year is this also taken into account?
Also are supervisers independent. Mine seems to come down on the side of the bank all the time.
Regards
MelanieGiles wrote:You are right Melanie they are one and the same. They claim that debt matters although I am not sure if it is fair to name & shame! It seems me that if this is indicative of larger firms, then then have sales people preparing the nominations on behalf of the IP and perhaps more professional staff in a supervisory roles for the same IP.
Well that is unusual in itself - as the Nominee and the Supervisor are usually the same person! Which firm is your wife using?
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
MelanieGiles wrote:I resisted the changes and with the creditors meeting looming signed. The initial proposal failed. With the redraft, I would not sign until the paperwork was 95% plus there. You have to remember that me anyway, was particularly sensitive as I wanted the creditors to back off, the IP to do their job and the creditors (& myself) to get a fair deal. This happened but I am still concerned with the cavalier approach of the IP. All in all a lesson learned but presumably I can't swop IPs a year in? Can I?
Well, mb2, the IP is the IP and he/she is ultimately responsible for the lot and the buck stops with us. It is fairly churlish to blame errors on staffing, when putting together an IVA proposal for a client requires careful and diligent working by the IP themselves. After all we are fairly well paid for the work by both the debtor and the creditors!
Why on earth were you letting the IP make up figures for you that you were going to have to live your lives by for the next five years? These larger firms, who work under a sausage machine mentality, have a lot to answer for.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
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