www.iva.co.uk

What would be an optimum time frame for and IVA provider to arrange a creditors meeting after being in possession of all a customers details. Assuming there are no exceptional circumstances, what do you think the maximum time would be and is nine months excessive?
Thank you

9 months???? Our IVA took 6 weeks from initial contact to acceptance....why so long?

Why spend life worrying...when you can spend it smiling!!

Hi Peterdelg and welcome to the forum. 9 months does seem a long time - is that 9 months from you returning your information to your IP? Were there any delays getting the paper work back to them? Would you mind saying which company you are using?

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Welcome to the forum peterdelg,

An IVA would take from 6 to 8 weeks. Nine months seems extremely excessive.

Regards,
Michelle P.

I think yes 9 months does seem a little excessive but it does obviously depend on your own personal circumstances and what information your IP required and whether there was a delay with paperwork etc.

We made initial contact with someone at the end of August and it was passed to our IP around the middle of September with our creditors meeting was beginning of December so just over 3 months from start to finish. This was 3 years ago if that has a bearing on it.

K

Hi
Can you give the reasons for the delay ?
Please don,t say that your IVA provider begins wth S
regards

Andy Davie
IVA.co.uk Spokesperson

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

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

That's what I was worried about Andy.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

You could accrue 9 months of back dated debt before the creditors meeting with charges added - overlimit and arrears. You need to take this into account as when the meeting takes place the actual debt and the presented debt could be miles apart causing excessive modification on the dividend returns,and inturn reducing your expenditure.

You must be in multi milion IVA deal??

Mine took 8 months from start to IVA being approved, but I have a good IVA and looking back on posts on this forum I know I got a good deal. Whilst I agree timescales like this are too long ,if it means all the facts are looked into properly and thoroughly I wouldnt neccessarily write your IP company off as useless!!

I dont think that taking nine months is down to facts being looked into, a good IP will be able to investigate in around 6-8 weeks if everything is straightforward. Who on earth wants to be in limbo for nine months?. An IVA is based on an individuals circumstances and 'deals' dont come into it.

lily

I agree Lily - nothing should take anything like as long as this poster has suggested - so long as he/she has provided the IP with all documentation beforehand.

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

jasperyogi wrote:

9 months???? Our IVA took 6 weeks from initial contact to acceptance....why so long?

Why spend life worrying...when you can spend it smiling!!

I gave the IVA provider my full and prompt cooperation with providing details - my case was not exceptional in terms of size of debt and number of creditors - I have no idea why it took so long but there has consequences - thank Pete

MelanieGiles wrote:

I agree Lily - nothing should take anything like as long as this poster has suggested - so long as he/she has provided the IP with all documentation beforehand.

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

Melanie,
Thanks for your input
I provided all the information promptly and cooperated with every aspect of the process - my debt was £40k and 5 debtors, nothing exceptional.....as a result I got a CCJ which never would have occured if IVA completed in 6-8 week time frame - now I am in the process of officially complaining to the institute of chartered accountants.
Thanks for you input
Pete

sonyse2t5 wrote:

You could accrue 9 months of back dated debt before the creditors meeting with charges added - overlimit and arrears. You need to take this into account as when the meeting takes place the actual debt and the presented debt could be miles apart causing excessive modification on the dividend returns,and inturn reducing your expenditure.

You must be in multi milion IVA deal??

Hi,
I dearly wish I had this information when I first set up the IVA - which is now settled incidentally - I feel the service I have received from the provider was inadequate at best and as I got a CCJ in my opinion, from the excessive delays, I am now complaining to the governing body. And the debt was £40k, not exactly millions!!
Regards and thanks
Pete

lily wrote:

I dont think that taking nine months is down to facts being looked into, a good IP will be able to investigate in around 6-8 weeks if everything is straightforward. Who on earth wants to be in limbo for nine months?. An IVA is based on an individuals circumstances and 'deals' dont come into it.

lily

Lily,
Thanks for your input. I provided all the details of debt and creditors promptly - £40k and 5 creditors - and sat and waited and waited. During the 9 months I was given a CCJ, the reason for my question as I want it to form part of my evidence for the complaint I am raising against the IVA provider, to the governing body.
Thanks for your input
Pete