Hi All
Sorry, I didn’t pick this up earlier.
6 months is quite along time but it is essentially the "worst case scenario".
With regards issuing the COC - it can only be done once all creditors have submitted their final claims and we are at times at their mercy to send these through. We do chase and quite often most creditors will send their claims through in a timely manner but unfortunately some dont which causes the delays. Its is very annoying at times.
Traceman, if you wouldn’t mind sending me your details I will find out what is happening and will try and get this resolved for you as fast as I can.
Just to clarify that IVA's formally come to an end once the timeline that they were set to run over has expired - so you don't need to wait for the certificate if the five years is up to avoid paying over windfalls.
That said - Certificates of Due Completion should be issued as soon as possible - and creditor claims should be agreed in the first year under best practice.
Declan - why don't you simply Rule 11.2 the delaying creditors during the first year of the IVA, and leave out any from dividend who don't respond?
Mine states that in the event we cannot remortgage, the IVA will continue for a further twelve payments in lieu of the equity and then it will conclude.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Something you will have to discuss with your IP orange.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It should finish after you have made that 11th payment.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi All
Thank you for your note Mel regarding the certifcates been issued and amending the rule, it is something that I have passed on to the relevant more senior people here at DFD.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
