Completion Problems

Get expert opinion. This is the place for new questions to be posted.
7 posts Page 1 of 1
Pedro_1
Posts: 4
by Pedro_1 » Fri Apr 21, 2017 12:19 pm
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?
User avatar
Foggy
Forum Expert
Posts: 24117
Contact
by Foggy » Fri Apr 21, 2017 12:35 pm
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.
Pedro_1
Posts: 4
by Pedro_1 » Fri Apr 21, 2017 3:21 pm
OK thanks Foggy, understood.
User avatar
Michelled0422
Posts: 100
by Michelled0422 » Fri Apr 21, 2017 4:01 pm
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
User avatar
luluj
Forum Expert
Posts: 9867
Contact
by luluj » Fri Apr 21, 2017 4:30 pm
Fingers crossed it will be sooner than 6 months - you can at least plan ahead now knowing it is all done and dusted. Well done !
User avatar
linrog
Posts: 305
by linrog » Sat Apr 22, 2017 5:45 am
i was with harrington brooks i finalised my iva last year feb 16 and from final to completion cert 6 weeks
User avatar
Lisa Thomas
Industry Expert
Posts: 6020
Contact
by Lisa Thomas » Mon Apr 24, 2017 8:25 am
Keep pressure on them to complete. It really doesn't/should take 6 months but some firms will drag it out.
7 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: Google [Bot], kallis3 and 22 guests