www.iva.co.uk

To whom do I contact to complain about my IVA Practitioner. IVA application failed and they hold £1000 of IVA payments in their Bank. Further more; no evaluation of failure etc. only a copy of the letter to the Courts stating failure. I have negotiated monthly payments (with interest & Charges stopped) to my creditors, arranged inside 6 weeks since IVA meeting, and wish to have the IVA Company to be scrutinized by the governing body and return of my £1000.
Thank you.

Am I right in thinking that you made payments to your IVA company prior to the IVA being set up?

When you were asked to make payments before the IVA was set up, did your IP say whether the money would be refunded, or were these set up fees?

Have to admit that I am totally confused by this thread.

I think we would need to know exactly what has transpired before we can give proper advice.

If you were asked to pay upfront, I'm afraid that these fees are probably lost.

Who was the company?

Hi
You need to look at any paperwork that you signed and find out what happens to any money paid if your IVA is rejected.
If you feel that you have a complaint and can't resolve it with your IP contact the Insolvency Practitioners Association on 020 7623 5108
Regards

Should you not initially follow your IP company complaints network before carrying it on further Andy?

Try to answer all.
Company Varden & Nuttal. Introduced by DSH.
VN insisted I set up a DD for IVA payments from the start - Quote 'shows intent to creditors at meeting' 'Payment is then one down' unquote. Informedby VN that IVA proposal would be ready on July 8th so DD set up for 10th month commencing July. Letter dated 9th Jul recieved from VN on 14th with highlighted 'no monies refunded'.
IVA meeting 27/28th Aug. Rejected by chap called Mark representing HBOS & Capitol One (I was informed by Telephone). Required me to commute 100 miles daily to work and save money for IVA payment. Undisclosed increase in fuel allowance.
Informed by VN that monies in IVA account would be used for expenses after the rejection of IVA. A payment was due on 10th Sep which they would return to me. I was able to cancel DD so they didn't have to.
Wrote to VN regards the IVA payments and informed they would be used for expenses.
Hope this answers questions.
ian

Hi Ian,

There are a few companies who do this now, it is fine to make an initial payment, but if the IVA is rejected, then that money should be refunded to you.

As they have told you the money won't be refunded, I doubt you will be able to get it back.

Have you thought about proposing another IVA with a different company? One who doesn't charge upfront fees? There are several companies on www.iva.com who don't, some of whom post on here.

When you decided to go with VN did you receive a copy of their terms of business? This may state what happens to monies paid in advance in the event of the IVA being rejected. Most of the firms on this forum do not ask for money up front other than a payment when the meeting of creditors has been arranged. This payment is normally refunded in the event of rejection.

You may have had a viable IVA and it may be worth speaking to another firm of IPs to see if it would be worth resubmitting. Only this time do not pay anything up front.

If you have a complaint against VN it would be best to use their internal procedures first before going to the regulators. Ask for a copy of their grievance procedures and I hope it works out.

I can't go for an IVA for 12 months as per the rules.
Tried VN reference grievence and no joy.
Paperwork recieved and DD arranged WHEN they said the prposal was ready. VN deny this now and not submitted until August.
Just tried to inquire from ACCA switchboard 5 times and connected to Dead lines.
Thanks for replies
Ian

As far as I am aware there are no rules as to when you can re apply for an IVA and you should be able to go for another one.

You could try this link to make a complaint:

http://www.insolvency.gov.uk/howtocompl ... inssip.htm

Hi Ian.You can go for another IVA as the twelve month rule applies to applications for interim orders which are no longer necessary for the holding of a meeting of creditors. It would be worth speaking to another IP firm as it seems you have been given incorrect advice.

I do think you should check the terms of business or anything you signed to check if VN can legitimately hold on to your money. If not you should get it back as that money would help repay some of your debts regardless what way you decided to go.

Michael is right. Assuming you haven't had an Interim Order then you are free to propose another VA at any time you like.

Regards.

What does the engagement letter you received from your IP say about payments made to them on an "up front" basis?

I logged a dispute for mediation on Sunday 15 Nov but can see no record of it on the site. Can I contact anyone at IVA.co.uk regarding where or if it was recieved? Thank you Ian

I am sure Andy will be along soon to have a look at this. In the meantime, perhaps you may want to contact him directly via his details on the left just to double check?

Regards.