My Iva portfolio was sold in the middle of a variation

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imogen
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by imogen » Mon Oct 30, 2017 4:11 pm
My Iva portfolio was sold in the middle of a variation to close Iva with funds to date. The new company got in touch and the case has been strong mastered and we have been awaiting a response from there legal team for over 10 weeks is there any thing I can do do I need to seek any independent advice?
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Foggy
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by Foggy » Mon Oct 30, 2017 4:19 pm
I am afraid the only recourse for disputes in an IVA are the IP's regulatory body --- unfortunately the regulators will not intercede or alter anything an IP does, other than to issue said IP with a reprimand and / or fine, so it is basically a pointless procedure!

This is something I would like to see rectified with the introduction of an Insolvency Ombudsman.

You could make a formal complaint to the new firm with threat of escalting this to the regulatory body ( they might get a move on to avoid a fine or reprimand ).
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