www.iva.co.uk

I am in the position to pay in full my IVA, within three years with the use of a third party to complete payment. I have a property. The amount that will be paid to date including the offer would amount to a full 6 year IVA. My IVA was signed 2013, so I presume I would not be part of the 2014 protocol which you have to get a secured loan? As although I'm offering complete payment of my IVA within three years, my person at the IVA company was more interested in talking about a secured load??? I was very disappointed to say the least. We are talking to finish my IVA is just a mere 3,500 so I'm not exactly a big fish here.

I'm not sure I quite understand the offer - is the third party willing to make payments on your behalf for 3 years or just one lump sum?

Was your IVA based on regular monthly contributions from your income or from other assets etc?

Have a look at your paperwork and remind your IP firm that the secured loan does not apply to your IVA and in any event will be academic if creditors accept any settlement offer.

Hello Lisa, Thank you for the reply. I was upset with my IVA person showing no interest in my offer and also the fact my IVA does not even have a secured loan requirement since it was in 2013. My third party offer is a lump sum in September of 3500 my IVA was only 7500 over 5 years. With my payments to date and tax rebate overtime already paid in, coupled with his offer of 3,500 they will of received 8400 basically the same kind of monies if I continued for 6 years, As I have property so I'm giving them exactly what they would receive over 6 years as per my IVA terms and conditions in just three years. I have phoned my IVA people again today and this time the person I spoke was very happy and engaged with me and focused clearly on my offer and confirmed I am on the 2013 protocol. He also said the secured loan is not even applicable to me plus it should not even of been mentioned to me at this stage. Scaremongering from the other person in his company and left me fairly upset and worried that my offer would be rejected. Do you agree I am putting in a good offer?

Hi Yes it sounds like a good offer but if you put it forward in September 2015 they should have called and held your variation meeting to consider it by October/November 2015.

Did the person you spoke to today tell you what was happening with the offer/variation meeting and what was the reason for the delay?

Hi Lisa, sorry just to be clear this offer is for this coming September 2016. I know it may take a good month to arrange a get for a creditors meeting so we still have a good few months to go before my offer kicks in. Is it too early to make the offer? Just would like to pin everyone down on this so I can relax knowing everything has been agreed and just make my last 4 months payments etc

my full final meeting was 12/11/15 and funds paid over 29/2/16 cc arrived 11/4/16

Thanks for the reply, so it looks like I can make the offer now looking at your timescale it's similar to where I'm at. I have sent the letter for the offer and request i will post back if they arrange a creditors meeting. Thank you

Can I ask why you are waiting for September to arrive? Why not make the offer now?

Hello Lisa, my third party funds will only be available in September, so I have to continue making my monthly payments of 125.00 until then. Then there 3,500 will be paid so this will the final end payment. What I'm trying to do is to ask my IVA company to arrange a creditors meeting to accept this offer now, basically get all the paperwork done and finalised. The creditors to sign whatever to accept. This ensures everyone is in agreement with no issues. I then can relax and just plod along enjoy the next few months and just pay the last few payments.

I agree - I would put the offer forward now on the basis payment will be made in September. That way you know where you stand and if accepted your IVA should be closed much quicker. Best of luck.

That's great to hear Lisa, so my IVA company should be more than happy to call a creditors meeting to offer this. I would be very happy knowing they have accepted. I will post back when the meeting is, that is if my IVA company agree to put it forward...Mmmm and hopefully the outcome..'

Fingers crossed for you!!

Hi

If you put everything in writing to your actual IP then I am sure that it will be put forward and accepted by your creditors

Good Luck

Regards

Best of luck.

Well, What a crazy couple of weeks! I've been proven that the person who was dealing with my IVA has been acting incorrectly and giving me misleading and false information. She was very dismissive which I found strange and kept telling me over and over again I would have to get a secured loan to appease the creditors. I was very annoyed, and upset by this, and wrote a clear and concise letter asking her to put these statements in writing (Which she did not). She then phoned me weeks later, late in the evening to say again I would need a secure loan before she was happy to take my offer to the creditors. I told her to not contact me again, but to reply to my original letter stating whether my IVA was either based on 2013 or the 2014 protocol. This letter must also include clear reasons why a secured was required on my part. I have taken the matter higher in her company, to cut this story short she has been removed from working or dealing with my IVA completely by those above her. My IVA is not bound by the 2014 IVA protocol never was. I am now dealing with a senior person in the company who has accepted my offer is correct and consistent with my genuine IVA terms and conditions. He is now in the process of arranging the creditors meeting and will lead this personally. I am still amazed and shocked that I was being intimidated and can almost say bullied by this person who was supposed to be supporting and helpful. I stop short of naming the company as every other person I've spoken to have been polite, professional and considerate to the sensitivity and stressful nature of being in an IVA. Thankfully I am now dealing with a senior manager who will deal directly with my IVA. [:0]