IVA - Peace of mind? No such luck

Dr_Hook

SIP3's the main one for IVAs - it deals specifically with voluntary arrangements. SIP9 (Remuneration of Office Holders) is worth a read too.

These are guidelines which IPs must adhere to and are enforced by their licensing body. If you have a complaint, I'd be tempted to direct it to the licensing body of the IP(s) supervising the IVA (which you can find out on the Insolvency Service website - seems to be either the IPA or ICAEW for debtmatters). If nothing else, it'll make the IPs sit up and take notice!

jam3162

thanks for the help and advice.Just received a letter for the so called IPA which was not signed by him! funny that! have been given a direct line number which i shall be ringing soon. He writes that as stated in the iva 'the supervisor shall at all times retain sufficient funds to petition for bankruptcy of the petitioner'. He then states that the nominees fee is yet to be discharged and so he cant petition for my bankruptcy. What does that mean? Help!

jam3162

debt_doctor

Tracker what is the point in having an IVA if you do not havea assett to protect and / or in an occupation that excludes bankruptcy. I am a debt caseworker for the CAB we beleive that as many as 70 % of IVA 's are miss sold.