www.iva.co.uk

IVA proposal going for referral to IP tomorrow but when I asked how much longer the process will take,my DMC said it depended on whether the IP needs more info. What further information would they need? Also anyone give me a time line as to how long it will take from herein?

Hi Madwithworry

As well as to discuss your options with you, your IP has to confirm your circumstances to be confident that your proposal is fair and viable; it's an obligation to you and your creditors. They will need to verify income using wage slips, creditor claims checking statements, secured liabilities checking mortgage agreements and statements and HP/conditional sale agreements, last 3 months bank statements. There may not be as much as this, there may be more - all depends on your particular situation.

Hopefully, there won't be much that they need to speak to you about as you indicate you are already with a DMC so with any luck, the majority of your income and expenditure, liabilities and assets has already been established, but may just need updating.

Very best of luck,

Which company are you currently with - and have you already provided a lot of the financial information required to support your IVA application? There will still be a large amount of work for the IP to do, even if the case comes to them already packaged, but there is no reason why this should take a long time so long as you have the items readily to hand.