IVA Finishing

[sostressed]

Hi, my IVA is due to finish at end of February.. so far I have sent a mortgage valuation and mortgage statement to GT last month but no replies from them.. should I cancel my direct debit after February.. I dont see why I should have to ring them to advise them of all this as they should be more efficient in circumstances like this ..

[Shining]

I would email your IP and just confirm the cancellation of the DD. Are you likely to need to release equity from the propery?

[sostressed]

there is about £40,000 equity in the property but they havent instructed me to remortgage, surely this is a bit late now..

[Shining]

They may request further payments in lieu of the equity but this will all depend on your proposal and your answer should be in there. Try an email to your IP for definite clarification.

[sostressed]

thank you Lesley

[luluj]

Encourage you to contact them and gain there agreement ...with that amount of equity i would imagine you may be required asLesley says to release equity..your proposal docs will allude to this or may say in lieu of equity a further 12 months payments to be accepted if a remortgage i not feasible.
What i would not do is do nothing ...you have travelled this debt free journey for miles and now the end is in sight don't jeopardise it by not communicating with them.

[Struzzo39]

Hope you get sorted soon

[sostressed]

if GT were on the ball, they should be pulling their finger out for those nearing completing and giving people like me more consideration, why should i have to chase them all the time...

[Foggy]

Hi sostressed -- I realise this is a regular pain in the rear end, but, you should be chasing them because it is YOUR IVA, not theirs.

As Nominee, right at the beginning, the IP is working on your behalf, but as Supervisor his focus shifts to the creditors, whilst ensuring you are treated fairly.

[luluj]

It is your responsibility to ensure you remain compliant during the term of your IVA...this includes the period up to receiving your certificate.

[Shining]

I have to disagree my IP instigated all my reviews including the closing one for my IVA. The poster's IVA isn't complete they are in limbo after sending in a mortgage statement and house valuation, they've fulfilled that part so what next? surely the ball is in their court to advise what is next?? Do they have to try and remortgage or pay a further 12 months, claim PPI or does it finish and the DD needs cancelling. Customer service somewhat lacks in some companies these days and this to me is an example of this.

[Foggy]

No Lesley, as Supervisor the IP is not driving the IVA, merely supervising it. Many are on the ball, as your was and is -- but at the end of the day it is the debtors responsibility to complete what they signed up for ---- in the proposal you sign a statement which amounts to "at month 54 I will get valuations ... etc. etc" so that is what you are supposed to do.

[Shining]

The poster has completed that part by the sound of it and is lost now as to what to do next, by the sounds of it they haven't even acknowledged receipt of her mortgage statement or house valuation which is why she is lost. Surely we need some guidance as to the next step in the process?

[Foggy]

Agreed -- the next step is to be banging on GT's door and demanding action --- not sitting back and waiting because you (the OP) doesn't see why they should take action.

[Shining]

Just read their website and they offer continued support for the duration of the IVA simply pick up the phone... I will shut up now after saying I would have the same attitude as the OP if I had met my obligations and received no response. I obliged all the way with my IP and didn't expect her to babysit me but did need and appreciate her support despite being a member of the forum.

To the OP please email daily unti you get a response and I hope you hear very soon what is the next step in your journey to debt freedom. x