Why 6 months to receive comp cert on a F&F?

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
User avatar
geoff412
Posts: 3
by geoff412 » Mon Sep 24, 2018 4:11 pm
Hi

Having used this wonderful site to help me through my IVA.

I can say I have only one more question!

Why after accepting the full and final offer, does it take 6 months to receive the certificate of completion?
User avatar
Foggy
Forum Expert
Posts: 27284
Contact
by Foggy » Mon Sep 24, 2018 4:48 pm
In short --- it doesn't ..... usually!.

A 6 month admin period is built in to standard Ts&Cs as a matter of course. Most firms take a couple of months, some take a couple of weeks. But, a couple take the full 6 months.
Some delay could be down to awkward creditors putting in different claims to thse originally agreed, which has to be sorted out and some to sorting out incorrect allocations of dividends (which sometimes happens) ... but generally the closure is just a matter of going over all the old reviews and making final payments and accounts .
User avatar
Lisa Thomas
Industry Expert
Posts: 7033
Contact
by Lisa Thomas » Tue Sep 25, 2018 9:33 am
It really shouldn't but many of the big firms are slow to act and take the maximum amount of time to deal with it before a complaint can be considered by the Gateway.

All you can do is keep the pressure on them to issue it asap.
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 22 guests