Why won’t they give me a clearer explanation

[Anxiousallthetime]

Hi

So we paid off our Iva in April, everywhere I look says 12 weeks until we get the certificate. It’s been 10 weeks so I rang for an update and they would barely tell me anything, other than it can take up to 6 months. I asked if they were waiting for anything and they said no so I asked them to explain the position and they said all they can say is it can take 6 months. Should I be worried? What’s the process, I really don’t understand and I just want it to be over!

[Breezy]

6 months plus is the norm these days, and has been for quite some time. A few firms manage it in weeks, but they are few and far between. I think a lot of it is down to reduced resources (staffing) and the completed arrangements drop of the priority lists, no longer bringing in revenue -- just my opinion, could be wrong !

[kallis3]

Agree with Breezy - I don't think you need to worry. Perhaps keep on pestering them and they may get fed up.

[Anxiousallthetime]

Thanks for the replies! I just wish I understood it, if they’re not waiting on anything, what are they doing! Be better if they explained it but I couldn’t pin them down and it just sets me off worrying! Just want it behind me! I don’t get what the process is

[Breezy]

Amongst other things they have to check the whole of the arrangement, re-visit old reviews, dot i's and cross t's, to make sure all is in order to prepare final accounts. They have to get creditors to agree that their claim has been dealt with fully and finalised. When everyone is happy, they can sign off on it.

The 6 month period is, in fact, usually built in to the term referred to in the proposal: a 60 month arrangement (60 Payments), will have a term of 66 months mentioned, to allow for these procedures.