www.iva.co.uk

Hello,

I’m just looking for some guidance really about early settlement timescales as I don’t feel that mine is being handled as well as it could be… I first wrote to request settlement and the arrangement of a creditors meeting in mid-February, and it took 2 chase phone calls from me and almost a month before this letter was even looked at by my account manager. I followed the procedures they asked for and after submitting my confirmation letters about the funds being available and income/exp review in mid-March, I have recently been called another two times recently still asking for income/exp reviews, as they had not been logging on the system, and found out on the last call that they haven’t contacted my creditors yet to ask for a meeting date. They keep telling me it takes a long time and they have to wait for the creditors to respond, a time period which I acknowledge is out of their control, but what is in their control is how long it takes them to ask for the meeting in the first place, and I couldn’t believe that they haven’t even put the meeting request out yet 2 months after I gave them all the details they needed. It’s only delaying a lengthy process even further. Am I being unreasonable or is this taking rather a long time to sort out? Having written in mid-February and having no meeting request submitted 3 months later? On one call they’ll say it takes 6-8 weeks, then on the next call it’s 2-4 months… I feel like I’m continuing to pay fees while this is being dragged out, in the interests of the administrators rather than creditors.

Any thoughts appreciated.
Thanks

Hi She-ra and welcome to the Forum.
I agree that this seems a long time to prepare a variation proposal. It may be worth contacting your IP directly to enquire about the delay. This may speed things up a bit.

Thanks for your reply - I've expressed concern the last couple of times that we've spoken, and particularly at the weekend when they chased the income/exp review again - I asked why they couldn't confirm which creditors had responded to the meeting request and they said it was because they haven't asked them for a meeting date yet. I was a bit stunned and expressed my concern considering the initial delay with the letter, my chase calls, and the fact that it's been two months since they received all the info, and no reason was given for it beyond the line that they're just following preocedure and 'it takes time' - namely 2-4 months now rather than the 6-8 weeks I was originally told. I feel a bit powerless as I'm just waiting for them to act, can't get them to explain what takes 2 months to prepare before even having a meeting date on the table, and don't feel able to influence the situation or speed with which they're acting. It's difficult to plan around having indefinite timelines spanning up to 4 months!

It does not take this long to draft a variation report and I doubt if you have been speaking directly to the IP. Email the IP directly and explain that you are not happy and feel messed around. The IP should then be able to put pressure on the case manager so the job gets done.

I would try and speak to your IP direct as Michael suggests.

You can contact them via this link:

http://www.insolvency-service.co.uk/newipsearch.htm

you might get some answers.

Which firm are you with?

Thanks for this - was encouraged by your advice to contact the IP but just read elswhere on the forum that my IP's aren't actually with the firm anymore! Good to know hey?! Ho hum...

Will call them and find out who my IP is and get this thing moving...I was interested to see another poster on here with exactly the same issues and timeframe so seems to be their general way of handling it