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Hi

Please can one of the experts tell me what the difference is between a Protocol Compliant Case / Non Protocol Compliant Case compared to a Standard Consumer IVA / Non Standard Consumer IVA.

I have received my paperwork today and its a bit confusing

thanks

Hi there and welcome to the forum

A Protocol compliant case meets all of the criteria set down as being required by creditors - apart from the basis of the IP's remuneration which will be set at the time of the creditors meeting. It is said that protocol cases may have a better chance of acceptance - but personally I don't hold by this as my non-protocol cases have exactly the same wording and terms and conditions.

Other firms may operate in a different manner, so it is best to bounce this directly off your IP. Which firm are you using?

Thanks Melanie,

I am using Debtmatters.

I think my confusion is that the way I read it:

First a case is either Protocol Compliant or Not Protocol Compliant and then if as case is Protocol Compliant is then either a Standard/Straightforward Consumer IVA or Non Standard/Straightforward Consumer IVA.

On the front sheet of my proposal is says Standard Consumer IVA Yes, but I have done some research into the protocol and the term I find is straightforward consumer IVA...? Is that the same thing?

Thanks

Whether or not your proposal is protocol compliant is irrelevant. If it is the right proposal it will be accepted and if not it will be rejected. some creditors such as HMRC do not subscribe to protocol so your IP will have to advise you as to the correct proposal.

As Michael says, the way your proposal is described by the IP concerned makes very little difference. As long as it has been properly constructed in the context of the creditors you have then it should have a high possibility of being accepted.

Even "Protocol Compliant" proposals have terms in them which do not strictly accord with the Protocol .... especially after creditors might have proposed amendments. The only safe bet is to read, and then re-read the document to see if you are happy with it.