I am 16 months into my IVA and should have had an annual review in January, however, my IVA supervisor has failed to conduct a financial review with me even though all of my financial details were supplied prior to the annual review date. I have since re-submitted my details 2 more times by fax & Starfax and I have called them 5 times. I am desperate for my monthly contributions to be reduced due to changed circumstances, but I have still not had any responses until yesterday, which is 4 months after my review was due.
This correspondence received yesterday was a copy of my annual review (without me knowing anything about it or having any discussions with my Supervisor). It is a copy of what had been sent to the High Court and my creditors and in which it states that my account was conducted in accordance with the requirements of the IVA and that a higher dividend than 25% is anticipated, however, (this is the bit that really gets me) It also states that I failed to submit my financial details as requested. This clearly implies I have something to hide and is in fact is a libelous statement to the courts given that I had submitted all of my details 2 months prior to the High Court letter. I am now worried that if I attempt to make any future reductions to my contributions or in fact offer a full and final settlement that my creditors will be far to suspicious to consider any proposals.
What can I do to be treated responsibly by my Supervisor? Is there a body that oversees IVA companies? I feel my IVA company should lose its ability to supervise IVAs and that potential debtors should be warned away from them.
You should take this matter up directly with your IP to see why they do not appear to have recieved the information you have sent them. This company are a very big organisation, but this is no excuse for poor client service. If you intend to make a complaint, do use the firm's own complaints process before reverting to the regulatory body.
Hi Melanie, I have 2 confirmations of receipt of my financial statements and have spoken to one of their many departments who confirmed receipt and offered apologies for not dealing with my review yet. They say they are extremely overloaded right now. I was unaware until yesterday that they had in fact conducted the review in the supposed absence of my financial details. It seems departments within DFD do not communicate with each other. The problem I guess I have is that I am locked-in to them, so they no longer need to perform.
I have previously asked them for their complaints mechanism details but as usual.... no reply.
There must be some way to make this company do what they are meant too. In my first year I paid £6,400 into my IVA of which they have deducted £3,500 (incl VAT). Given this substantial income I can't see they have any incentive to let me reduce my contributions or settle early.
The IVA system seems fundamentally flawed to me given that your Supervisor owns you for 5 years without any checks on their own performance!
Can I write to the High Court and my creditors informing them that I have adhered to the IVA schedules?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I suggest that you send them a stiff letter saying that you will be lodging a complaint to their regulators unless they provide you with an explanation of what has happened to your documents, and that they agree to send a further report to creditors confirming that you are fully compliant.
If you need to get a reduced payment to creditors agreed, they can call a variation meeting at the same time. It is not acceptable for a firm to say that they are overloaded - if they have too much work on they either need to get sufficient staff levels on board to deal with it, or stop taking so much work on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I know DFD are about three months behind currently with Reviews and responding to overtime payments etc - we only got informed this last week that my extra overtime payments were supposedly miscalculated and we owed them £400 more.....after a complete I&E within three hours of the initial phone call I have received an email letter saying no change.....so it shows that can do if they want to......speak with your superviser direct - I have a direct email address of someone...if you continue to get knowhere happy to share her direct email to you if you contact me off "forum" - she has been very helpful this week for us !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I will get someone from DFD to communicate urgently with you.
Last edited by David Mond on Mon May 18, 2009 6:39 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Thanks Lulu, I have found a direct contact now for my IP.
David, are you recommending that I communicate with them urgently or are you saying that you are getting them to contact me? If it is the latter then what contact details do you have for me?
David likes to make statements like this occasionaly bobrini! In reality he probably means he will draw DFD's attention to your post, and leave it up to them to make contact with you. Don't worry - none of us have any of your personal details.
bobrini wrote:
Thanks Lulu, I have found a direct contact now for my IP.
David, are you recommending that I communicate with them urgently or are you saying that you are getting them to contact me? If it is the latter then what contact details do you have for me?
What I do is forward a link to this post to a senior director at DFD for them to either contact you by posting here and requesting that you contact them - this appears to work in most cases and the matter resloved.
I don't have any knowledge as to who you are so all your personal details are safe.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
