When is discharge of insolvency?

Get expert opinion. This is the place for new questions to be posted.
10 posts Page 1 of 1

Nikl

Posts: 77
Joined: Mon Mar 12, 2018 4:48 pm

Post by Nikl » Wed Oct 24, 2018 6:46 pm
I started my IVA October 2017 and have been on Universal Credits from the very start. DWP we’re taking out £47 a month from the amount I received even though the initial tax credit debt was included in the IVA. It wasn’t until March 2018 that this was resolved and the stopped taking it. I completed with a F&F in August and this month they have started taking the £47 again. They have agreed it’s an error but have said it will only be returned upon discharge of insolvency. When would this be? Would I be entitled to it all back do you think or just since it’s started back up? Many thanks

Foggy

User avatar
Forum Expert
Posts: 28706
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Wed Oct 24, 2018 7:05 pm
The "discharge" in an IVA is when the IP issues the completion certificate. This can take from the normal couple of months to upwards of 6, depending on who you are with, some can even manage it in a few weeks!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Nikl

Posts: 77
Joined: Mon Mar 12, 2018 4:48 pm

Post by Nikl » Wed Oct 24, 2018 7:11 pm
Ah ok I’ve got that so I will send them a copy. Am I entitled to a refund of any debt recovery that’s been made incorrectly whilst I was in an IVA?

luluj

User avatar
Forum Expert
Posts: 10476
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Thu Oct 25, 2018 2:42 am
If you believe DWP owe you monies then you need to put your request in writing; send it recorded delivery and give them a reasonable period of time to calculate etc. I am not sure you will get a speedy response - debt recovery teams are inundated with similar requestscand each case in addressed in turn.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

Lisa Thomas

User avatar
Industry Expert
Posts: 7386
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Thu Oct 25, 2018 9:19 am
Has your IVA finished early?

Sorry if I have misunderstood your post but many IVAs last up to 5/6 years so if yours started in 2017 it would be slightly unusual to have finished son soon, unless it was a lump sum type agreement?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Nikl

Posts: 77
Joined: Mon Mar 12, 2018 4:48 pm

Post by Nikl » Thu Oct 25, 2018 9:25 am
Lisa Thomas wrote:
Has your IVA finished early?

Sorry if I have misunderstood your post but many IVAs last up to 5/6 years so if yours started in 2017 it would be slightly unusual to have finished son soon, unless it was a lump sum type agreement?
Yes it finished early, as a Full and Final settlement was offered after 10 months

Lisa Thomas

User avatar
Industry Expert
Posts: 7386
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Thu Oct 25, 2018 11:22 am
Thanks for clarifying.

Some firms take up to 6 months to issue the CC.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Nikl

Posts: 77
Joined: Mon Mar 12, 2018 4:48 pm

Post by Nikl » Thu Oct 25, 2018 1:45 pm
Lisa Thomas wrote:
Thanks for clarifying.

Some firms take up to 6 months to issue the CC.
I have the CC, it arrived within 2 weeks. I was just asking with regards to whether this is classed as discharge from insolvency

Foggy

User avatar
Forum Expert
Posts: 28706
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Thu Oct 25, 2018 3:05 pm
Nikl wrote:
Lisa Thomas wrote:
Thanks for clarifying.

Some firms take up to 6 months to issue the CC.
I have the CC, it arrived within 2 weeks. I was just asking with regards to whether this is classed as discharge from insolvency

You have the CC .. you are no longer insolvent.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lisa Thomas

User avatar
Industry Expert
Posts: 7386
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Fri Oct 26, 2018 8:22 am
Yes you have been discharged form your IVA.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
10 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”