Annual review of insolvency regulation

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

Foggy

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

Post by Foggy » Fri Apr 08, 2016 5:51 pm
In case you are interested The Insolvency Service has just published its annual review of insolvency regulation within the industry.

Page 17 makes good reading -- many of you will know the names.

https://www.gov.uk/government/uploads/s ... w_2015.pdf
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

lifenoteasy

User avatar
Posts: 3248
Joined: Thu Feb 05, 2015 2:26 pm
Location: United Kingdom

Post by lifenoteasy » Fri Apr 08, 2016 6:14 pm
Only 25% of complaints are being rejected at the gateway stage.
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.
 
 

lifenoteasy

User avatar
Posts: 3248
Joined: Thu Feb 05, 2015 2:26 pm
Location: United Kingdom

Post by lifenoteasy » Mon Apr 11, 2016 2:46 pm
Bumping this up - it is worth people taking a few moments to read.
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.
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Mon Apr 11, 2016 3:34 pm
Very interesting Foggy. I was thinking what an expensive lesson or two MA had then I read PH's cost award further down...!
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Mon Apr 11, 2016 3:35 pm
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by lifenoteasy

Bumping this up - it is worth people taking a few moments to read.
Good point LNE just to show debtors that complaints can and are upheld.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

MerlinL14

User avatar
Posts: 1626
Joined: Sun Oct 30, 2011 2:44 pm
Location:

Post by MerlinL14 » Mon Apr 11, 2016 4:07 pm
The cynic in me says this will not change a single attitude towards the debtors by the same IP's, next years report will, no doubt, bear testament to that.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
 
 

Foggy

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

Post by Foggy » Mon Apr 11, 2016 4:31 pm
I know what you mean, Merlin. But if more clients carried through with there complaints their pockets would begin to buckle and I would like to think that the regulators ears might prick up.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

longslog101

User avatar
Posts: 526
Joined: Thu Feb 05, 2015 9:19 am
Location:

Post by longslog101 » Mon Apr 11, 2016 5:41 pm
There were some serious fines in there - which is nice to see !
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register

IVA ended August 2015. Would recommend McCambridge Duffy
 
 

MerlinL14

User avatar
Posts: 1626
Joined: Sun Oct 30, 2011 2:44 pm
Location:

Post by MerlinL14 » Mon Apr 11, 2016 6:04 pm
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy

I know what you mean, Merlin. But if more clients carried through with there complaints their pockets would begin to buckle and I would like to think that the regulators ears might prick up.
The regularity bodies should by now have a very good idea of who is bottom of the "duty of care" list. They either subscribe to this list and have as little respect for IVAers or have their head in the sand. Seems it takes a formal complaint to get any headway with a dispute. Case workers seem to forget that they are not the administrator of an IVA and they should be barred from making unilateral decisions to phone calls or letters of concern from those in an IVA, there should also be a monetary consequence for their rudeness and lack of respect to a genuine concern rather than brush it off. Telling someone in an IVA that they can not speak to 'their' IP should be a sackable offence.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
 
 

chrissy12345

User avatar
Posts: 33
Joined: Mon Oct 28, 2013 10:55 am
Location:

Post by chrissy12345 » Mon Apr 11, 2016 9:37 pm
interesting fines! bet it doesn't make much of a dent in the Ips pockets though. I wonder where the money from the fines actually goes does anyone know?
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Tue Apr 12, 2016 9:34 am
I'm pretty certain a £150k fine does make a difference!!
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

lifenoteasy

User avatar
Posts: 3248
Joined: Thu Feb 05, 2015 2:26 pm
Location: United Kingdom

Post by lifenoteasy » Tue Apr 12, 2016 9:51 am
There was a long history to that one including a US pressure group bring set up.
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.
12 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”