Last Payment 28/04/16 - Completion Certificate 03/06/16 #128515;#128512;

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade> Originally posted by Spider8 Happy days - just got my completion certificate today, after a long battle about equity release & the various clause, letter of complaint etc. The IP agreed on my side. No extra year, & IVA com...

Happy days - just got my completion certificate today, after a long battle about equity release & the various clause, letter of complaint etc. The IP agreed on my side. No extra year, & IVA complete. Happy happy happy. Never again & a word of warning before signing up to an IVA check the clauses esp...

When offering a f&f settlement figure do you include the IVA company fees or not?

From the IVA statement I get, I was only going to offer what the creditors are actually getting from my monthly payments & deduct the admin fees to the IVA company.

Any suggestions on f&f?

The wording from Annex 6 can be interpreted in different ways.

9.5 a clause detailing the above as set out in Annex 6 - well Annex 6 is not worded as it says at 9.5 - detailing the above.

So who decides if this Annex 6 clause is inserted & how should it be interpreted?

Clause - Annex 6 My proposal has a straight copy & paste of Annex 6. Protocol 9.5 - States "detailing the above as set out in Annex 6 Who decides if Annex 6 is included - Is it automatically included if you are a homeowner? Or the creditors or IP? And why is Annex 6 so badly worded as it's not as it...

The reason I ask is that I have a copy & paste of Annex 6 in my proposal.

So Annex 6 is automatically included if you are a homeowner?

Equity Clause - Annex 6 9.5 A clause detailing the above as set out in Annex 6 is to be included, where appropriate, in the individual’s proposal and the summary sheet (Annex 5) will identify that this clause is included. The above clause States "detailing the above as set out in Annex 6 is to be ...

Michael, thank you for your reply, we have made a compliant with the company & they have confirmed they will investigate. However your advice is very welcome and will be our next course of action. Many thanks.

For viewers new to an IVA, just starting or approaching the 54 month point (homeowners) Where I mention 9.1 to 9.5 and Annex 6 & 7 - this relates to the IVA Protocol 2014 & 2010 (not many changes between the 2). Annex 6 & 7 are found at the end of the document like attachments. Annex 6 is the clause...

Thanks Winter_blues, I've also researched this but the IP is standing their ground at this time and just working from the clause at Annex 6. It's badly worded and not as it suggests at 9.5 in the main body of the document where it states - " A clause detailing the above as set out in Annex 6" Annex ...

Thanks Foggy, we are now in the process of deciding what to do next, any advice greatly received.

My wife and I both have IVA's with Payplan and they are Protocol Compliant. Started in 2011. We are at the 54 month point - Equity Release. Payplan IP has stated because of the clause in our proposals - Clause is Annex 6 of the IVA Protocol. He has ruled that as your 85% interest in the property is ...