Insolvency Practitioner Timescales

mrs_j_2

Hi

I'm hoping someone here can help!

I was declared bankrupt back in 2008, and because I had inherited my late mother's house, my case was referred to an insolvency practitioner to deal with.

The house sale was finally completed in June last year, but the trustees have yet to declare the dividend. In fact, they have only just advertised in the London Gazette for all unproven creditors to prove their claims by 31st January. I have emailed to find out if it is standard practice for the process to take this long, and have received a reply saying that this is what is required in accordance with the Insolvency Act 1986. I have consulted the Act, and can find nothing relating to timescales. I have tried to look on the internet for information as to how long the process should take, but have drawn a blank.

Am I being unrealistic or unreasonable to think that the matter should have been dealt with by now?

Thanks

debt_doctor

In general, IPs drag out the situation for as long as they can to attempt to justify their outrageous fees.

DD

mrs_j_2

Thanks for your response.

I am seriously tempted to put in a complaint, if only to get them to explain exactly why it has taken so long. Do you think I have grounds to do this? Do you know if there are any rules regarding the IP's obligations to me i.e. keeping me updated?

Any advice would be appreciated.

debt_doctor

Hi again,
Perhaps in the first instance you should put your concerns to the company in writing.
If not happy then perhaps you should refer to the following;
http://www.bis.gov.uk/insolvency/insolvency-profession/professional%20conduct/how-complain-against-an-ip

DD