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Posted: Mon Dec 27, 2010 3:21 pm
by moneyprobs
I read about this on another post which I now cannot find, How do I find out if my agreement is protocol compliant or not ??
Thx in advance [:)]
Posted: Mon Dec 27, 2010 4:58 pm
by Foggy
Mine states it across the front ( even thpugh some terms have been amended and aren't PC). Generally if it's this years, it should be.
Posted: Mon Dec 27, 2010 5:18 pm
by kallis3
Hi Moneyprobs, if you took your IVA out in the past couple of years then it should be protocol compliant.
Posted: Mon Dec 27, 2010 5:46 pm
by MelanieGiles
It has to say so within the body of the proposal in a prominent place, and the summary sheet at the front of the proposal will make this clear usually in the top right hand corner.
Posted: Mon Dec 27, 2010 6:21 pm
by spike
It could also be on your appendices too.
Posted: Mon Dec 27, 2010 7:03 pm
by moneyprobs
Thx for all the info [:)]
Posted: Tue Dec 28, 2010 1:21 pm
by carole2662
Have just looked at mine and cant see if it is protocol compliant. We took it our in May 2009 any advise to if it should be or not.
Posted: Tue Dec 28, 2010 1:25 pm
by Adam Davies
Hi
Possible as the protocol came out in Feb 2008.
Have you read through your chairmans report ?
Regards
Posted: Wed Dec 29, 2010 10:58 am
by stobatron
What does protocol compliant mean?
Posted: Wed Dec 29, 2010 11:09 am
by kallis3
The original protocol was introduced in 2008 and updated in 2010. This means that certain things on your IVA apply, such as equity release and/or extensions in lieu of equity. Also overtime and bonuses and the amount you pay comes under this.
Posted: Thu Dec 30, 2010 12:01 am
by MelanieGiles
Guys
Not all IP firms use the protocol, so can we be careful about the advice given out. It is very simple to see whether an IVA is protocol compliant or not - because it will say so within the body of the proposal. If not, then it is not - and creditors tell me that there are still many non-protocol IVAs flying around the marketplace - and the cynic in me thinks that the IPs who are not using it are probably better off financially, as fees are not adjusted so much.