What are the incentives for an IP to keep an IVA open? Do they draw monthly fees out of the pot? This is all I can think as to why my IVA is being kept open now all of the Paymex PPI issues ad nauseum have been resolved! There must be some incentive or is it just my IP is crap? I've emailed until I'm blue in the face to get a completion date but don't want to annoy them and have it result in a 'technical' issue scuppering the hat work I have put in!!
In most cases these days IP fees are based on a percentage of realisations, so the longer the case remains open and time is spent on the the IP is actually losing money !! Many IP's are managing to close despite Paymex and PPI, so I can only guess, in teh case of the larger firms, they are just being pig-headed and / or lacking in the expertise or manpower to maintain their case loads.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Whilst the IVA is ongoing and the IP is receiving monthly payments they are making money from the IVA. When you stop paying because the IVA has ended then the IP makes no more so has no financial incentive to spend time on it.
I would expect that the closure work will be past down the line to junior staff who will no doubt be inundated with closures and will no doubt do the easy ones, and the ones that shout loudest, first....
Definitely e-mail your Supervisor directly, and express your concerns about the lack of response from his/her team. If you need to escalate this into a formal complaint. No IP likes dealing with issues like that, and I am sure it will escalate a reply for you.
Not true at all!! Your IP is personally responsible for your case, and must act accordingly - whether like me they own the business, or whether they are simply an employee. Don't be fobbed off, and insist that they take your call if you need to speak with them.
