Hello
Hope you can help. I offered a full and final in March, and submitted all relevant documents. I am still waiting for the creditors meeting to be called - numerous times I have called and been told the proposal has been written, they are just waiting for internal processes.. I called 12 days ago and they said it would be sent out the end of that week. This didn't happen, so I emailed and they said it wasn't ready. I havent' bothered them since, as I feel they are getting annoyed with me! But this seems to be taking a long time. My offer was fairly high. Also while waiting I have made a further 2 payments, would this be deducted of my final offer? I would ask my IP but I don't feel I can, they haven't really given me much guidance through this and were no help when I was trying to decide on a figure to offer. Gosh this is a long email - apologies! Thankyou for reading
I am appalled at the delays in this. Who is your IP firm? It depends what your offer is and whether it mentions that it will reduce by any monthly installments you make whilst waiting for approval.
Last edited by David Mond on Thu May 21, 2009 10:14 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 for your reply David. My IP is Grant Thornton. I feel bad slagging them off on here, but I don't know who else to ask for advice! My offer is 15k. I had paid 499 x 25months when i made the offer. Total 29940 owed. Since the offer I have paid a further 2 payments. SO surely not a bad offer??!
Excellent offer and I will get someone at GT to sort asap.
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.
Thankyou so much David. I hope I don't get anyone into trouble - I just feel my life is on hold while waiting! And if the offer is accepted i would like to start paying back the third party ASAP. Thanks again.
I actually do not think that requesting a full and final offer in March, and it now only being May gives grounds for suggesting an "appalling delay". And it is perfectly reasonable to expect you to pay ongoing payments in the meantime, as that is the basis on which your IVA was set up.
I would personally not be happy to have another IP chase me given the timescale you refer to, especially if they did not know the full details of my client's case, but of course that is a matter for David and GT!
I am sure if you politely ring your Case Manager and ask them to commit to a timeline which suits them and you, this is probably the best way forward.
Thanks Melanie. Maybe it is better if David does not ring them. I just don't know. I have tried to get an idea of timescale, but to no avail. On 20th April I was told report was just waiting to be signed. On 6th of May I was told it would go out end of that week, or at latest early the following week. This didn't happen, my last email from them was just that they would call me when proposal is sent, but still not heard, and not given any idea of timescale. If, as you say, Melanie, this is not a huge delay, then I guess I will sit tight.
I can understand your frustration - but there are two separate issues here:-
Firstly - the issue of the timescale involved in varying your case, which I do not feel is at all unreasonable.
Secondly - you appear to have been told that something is in process but you have not yet received it within the timeline discussed.
With regard to the second issue, it is perfectly reasonable for you to call your Case Manager to ask why there has been a delay and under what timescale they anticipate the report will be issued to creditors. Although the report may have been drafted, perhaps it has not yet been reviewed by the IP. This is a good and professional company and they take client service very seriously. I am sure that you will find that you get the right answer.
If the request was made at the beginning of March and it is now 21st May - that is 83 days over 11 weeks! I do think my adjective of "appalling" is right.
I have not spoken to anyone at GT but sent them a link to this post to Mark Allen to look into the reasons as it appears wrong in my eyes - even if the original request was made mid March then 68 days - over 2 months is too long!
Last edited by David Mond on Thu May 21, 2009 11:15 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.
Can I just make it clear to forum posters generally, that there is no firm rule as to the timescale involved in an IP submitting a client's application for a variation.
David and I have differing opinions of reasonability here, but neither of us are right and neither of us are wrong.
Thankyou both for your comments. I wasn't really sure of the full procedure and how long it should take... it just feels like I have been waiting a long time... I'm sure something will happen soon, as I understand from this forum that GT are very reputable.
I agree that Melanie and I can have different opinions on reasonableness.
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.
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.
