www.iva.co.uk

Hi, can you advise if you have had a full and final settlement for an IVA declined. (offered to pay them as much as they would have received over the 5 years). Does the lender have to give a reason why they have declined it? Thank you

They might mention their reasoning to the IP, who might pass this on, but I do not believe that they are obliged to give a reason.

Hi

I would expect them to give your IP a reason, although as Foggy states I doubt that they have to do this

Regards

Most reputable IPs would insist that reasons are given, and if your IVA is governed by the terms of the IVA protocol, and they are a creditor who have declared that they have accepted the protocol, then they are required to.

Hi thanks you for your response the creditors that decline were (Barclays - PCO Holdco) and Link financial. I would think these both would have accepted the protocol. Would you be able to confirm that have? Thank you all for your help.

Hi Zoe,

I have been following your thread, am I correct in thinking that you have already been declined in your full and final offer?

Also that there were no reasons given?

Hi Preggaiva, yes this is correct.

Hi Zoe

Can you say who your IVA is with ?

Regards

Yes it's with NTF financial Solutions Andy

Link Financial have not adopted to the IVA Protocol, and have a history of not being supportive to IVAs. I generally find PCO Holdco very supportive, and am surprised that they have rejected the offer without giving specific reasons.

Do you know if your IP has tried to discuss this with them at all?

Hi. I asked them for the reason they said they didn't have to give one. I said to them that I don't think they pushed hard enough. Which they said they are not salesman. They put it in front of the creditors and it's their decision. They declined it in sept. Do you think it's worth asking them to submit my offer again? Thank you

Hi Zoe

It is not our policy to respond to specific matters on a public forum. We are aware that you have emailed the office and we will provide a full response to your comments in due course.