We recently completed our IVA on March 21st after a 12 month extension and 6 long years. Last year the IVA was handed over from Debt Lifeboat to Harrington Brooks. Harrington Brooks have now told us it will take up to 6 months to close down the admin and issue our Completion Certificate. They say this formed part of our agreement but there is nothing relating to this in our original agreement with Debt Lifeboat. The agreement said CC would be issued upon completion.
They are very unhelpful and keep repeating the same line. What can I do? Are there regulatory bodies for these people?
There are regulatory bodies, but they
will not intervene, only sanction the member. However, 6 months is the usual period written into the agreements -- usually within the "Length of Arrangement" clause ... for a 5 year ( 60 payment) IVA the length of arrangement is usually quoted as 66 months, to include a 6 month admin period, which can also be extended if need be.
The thing to be aware of is the use of the term "up to" ... many firms will quote up to 6 months yet complete within a few weeks -- some of the timescale is outside of their direct control, so they err on the side of caution.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi. My IVA company said it would take 6 months, and then out of the blue yesterday I received an email to say it was complete and I would get my certificate within 10 working days. That means it has taken them 3 months, so hopefully you will get yours within 6 months too
