IVA... Frustrated a little annoyed

Vikipollard

I have to say I think you should start with the £4500 offer.

If you detail the fact, as has been suggested, that your circumstances have changed and you will not be able to return to work (and may well no longer be able to maintain the current payment), a one off payment of £4500 suddenly looks much more attractive to creditors, wouldn't you say? Particularly if the alternative is them paying to make you bankrupt (and in most cases, IVA yields a higher return for creditors than bankruptcy anyway)...

I really believe the caseworker is talking cobblers here. Speak to your IP if you can, but preferably write to them so they (theoretically) write back.

Reference PPI, even if you do have a claim to make, you are almost certain to see everything bar the 8% interest go to your creditors. Sorry, but that's just the way it is. I also had the argument with my IVA people (GT) that I didnt believe I had any PPI to claim so I wasnt prepared to sign any papers. I didnt hear anything again until 5 months AFTER my 6-year IVA finished, only to be told they would not send the Completion Certificate unless I signed the papers. So I did, but I wrote on all of them that I was forced to do this. Petty perhaps, but ultimately in my view it is fraud and I object to being forced to do so.

Oh and by the way...10 months on, I still have not received my completion certificate but then, it must be making them a tidy bit of interest holding on and faffing about before distributing the funds...

Mj1981

Have emailed our ip today, he has suggested an offer off £5,500 with £300 of that being 'his fee' for the variation leaving the creditors with what they would get out of the 3 years anyway and is unlikely they will say no whereas a lower amount will end in refusal.

I asked how long the whole process would take and how long for us to receive a certificate of completion and he has said that if money is transferred to their holding account BEFORE the meeting then he's confident he can have the certificate out to us with 6 weeks of the offer being sent out (subject to acceptance obviously)

I'm not happy about handing over any money until we know its being accepted but I know that as soon as we receive confirmation (in writing) that it has been accepted the money can be transferred almost immediately so I don't see why it would need to be there before

milliemonster

Your ip will need the money in their holding account prior to the meeting being held, it's basically to prove that the money is there and if for any reason the full and final is refused, it will be returned to you

Isis_Black

Our iva stated I would find work after completing my uni course
Well I dropped out last year due to ill health, all we did was say I had no finance anymore but they never asked why
We're managing to keep up with our original payments so they're not asking any questions
But I'll be fully open with them if they want to know why I left uni and why I'm not at work or able to work

I can't see their big issue if your managing to keep up payments and giving a bulk amount
Also you've no guarantee of getting work especially if you have a special needs child