How long does it take to set up an IVA?

baglady

UPDATE

i thought that everything was going in the right direction with getting my IVA proposal done.

About a month ago I went to see my IP to sign the IVA proposals.
At the same time at the suggestion of my IP my family member who is helping with payments was advised to contact trustees to seek a cap on their fees. They were charging £7000.

She then got a letter from the trustees advising us that I had now been discharged as a it was a year since my BR. So now it is no longer possible to have an IVA.

My IP has now said that the alternative is to seek an annulment by paying all the creditors. I was not aware that this was something that could happen.

The is whole thing has been so long winded and frustrating.

In preparation for the initial IVA we have been paying money into an account with the IP.

I am wondering if any of the money that is in this pot can be used to pay the creditors and fees. The amount owed to my creditors is under £5,000 now as some things were written off,

I will be meeting my IP this week.

We are not happy with how things have gone. Is there an organisation that we can contact?