www.iva.co.uk

Hello - so we have just received our latest Annual report, we find ourselves 15 months past the 84 month (7 year) term due to outstanding PPI claims that are being pursued by my IVA practitioners Sister company - is this lawful/legal, I'm just about to construct a snotogram

I think I would be too .... ridiculous amount of time after the iva end date to still be chasing for ppi without closing the iva case

You say you are being pursued by the sister company -- I assume this is the arm dealing with the PPI claims. On that front, as irksome as it might appear, co-operate and don't give them reason to "pursue" -- just do whatever makes the process faster ---YOUR goal is that completion certificate!

Now, regarding the undue delay ..... your question, "Is it legal?". Check your proposal. Most have a 6 month period for admin built into the term (Length of the arrangement is usually 66 months in a 5 year IVA. This is 60 payments and 6 months admin). They then have a clause that the length of the arrangement (other than as otherwise agreed for equity, arrears, etc.) can only be extended twice, once for three months and once by up to six, on giving prior notice.

If these have been used up or you were not given the specified notice your IP is in breach of the contract and you have grounds for a formal complaint, which can be followed up by a complaint to their regulators.

This was posted by the OP on another thread and relates to this post also:

"Just mailed this to Freeman Jones, what response should I expect, this is going on forever, I need to get my life back on track, 8.3 years and counting.......Aaarrgghhhhhh!

I believe we have stuck to our obligations as set out initially and where you have chosen to change them over the term with the variances around equity release and potential PPI claims.

The term of the IVA has now run it’s 84 month (7 year) term, as per contract/policy, in fact it has actually exceeded that by 15 months, the running term is now at 8.3 yrs with what seems no sight of an end.

I therefore require you to confirm that you will bring this arrangement to a formal close, to confirm in writing that the arrangement is indeed complete and ALL records relating to us are updated accordingly, so we can remove the unreasonably burdensome nature of prolonging the arrangement even farther past the 84 month / 7 year cut off point by some way and so we can get back to living our lives accordingly, i.e. not being viewed as social/financial pariahs, unable to gain employment in the financial/banking sector, unable to gain a higher level of security clearance for my job, which has limited my career progression opportunities for 8.3 years and applying for a re-mortgage at rates everyone else has been enjoying over the last several years.

It is our understanding from other IVA practitioners that 84 months is the limit, and reference to that cut off point (84 month policy) is made in our annual report issued by you.

If we do not hear from you within 7 days we will seek formal legal advice.

I look forward to hearing from you and finally drawing this to a close."

- See more at: http://www.iva.co.uk/forum/topic.asp?wh ... 490#584647

Hi Norfolk n Chance,

I would like to look into this for you, please could you send me an email to spencer.last@freemanjones.com with your reference number. I look forward to hearing from you soon.

Regards.

Hi Norfolk n Chance,

Thank you for your post earlier this week. Although I didn’t get an email from you we were able to locate your account from the details in your post.

As you know, the delay in closing your IVA was due to a single outstanding PPI claim. Your Insolvency Practitioner has reviewed your IVA today and he agrees that you have been waiting far too long for the creditor to process your claim. We have therefore started the process of completing your IVA so that you are able to put this behind you and move on with your life.

As we explained on the phone earlier, you should expect to receive your final report and completion certificate within the next 7 days.

Please accept my apologies for the delay in completing your Agreement – I do hope this solution is the resolution that you were looking for.

Hi

Good response from Freeman Jones

Regards

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Andy Davie

Hi

Good response from Freeman Jones

Regards

Must say that it is great that, without compromising privacy, Spencer gives us some feedback and helps with our understanding of the issues.

It's a shame Norfolk had to post on here to get things moving...