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I am 4 years and 3 months into an IVA. I should have re-mortgaged my home in August 07 to release the equity, but was unable to because it is co-owned 50% share with a housing association. I have fully complied with the proposal and after invaluable advice and support from this forum wrote to my IP in September asking him to call a meeting with my creditors and with an alternative proposal as I was unable to release the equity.

I have been contacted by their complaints officer, completed an income and expenditure statement and have now been told that the meeting will not be held until the 8 January 2008! This is a 5-month delay - are they in breach of the arrangement?

Hi
I'll leave Melanie/Catullus to answer that specific question but from your point you have done all that you can and I feel that you will be successful with your meeting.I think the worst scenario is that you will be asked to extend your IVA for twelve months
How do you feel about that ?

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
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Not technically, depending on the specific terms of the IVA, however he/she must be open to some criticism for the delays in dealing with this point.

Now you have a creditors meeting set, personally I would let the hare sit and await the outcome.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp