Just wondering what should normally happen after f&f,
How long should completion certificate take to be issued and How long after completion do any of the IVA conditons apply? Notwithstanding the current mess with VAT/PPi
As creditors have accepted the offer, is the debt classed as paid off?
It may depend on your own IP but normally a few weeks is sufficient to close once the funds have been received. No one wants files lying around so it is in everyone's interest to close.
Speak to your IP and see what their timescale is.
Hi flowerpot - once you have your completion certificate the IVA conditions no longer apply so the IP will not issue it until everything has been finalised from their perspective. The debt is considered paid off once the funds are trasnferred and you have the completion certificate which hopefully should be with you within a few weeks. If your IP is one that has been able to start closing cases then it will give you a chance of getting it quicker.
Glad to hear the creditors accepted your offer so best of luck with your new debt free future once everything is finalised.
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As far as we are aware the funds have been paid accross, ie my mother in law paid the f&f at the start of march, then there was the 28 day notice of variation, then it was all accepted at the end of march and the ip said they would begin the process to finalise and distribute etc. Meanwhile 2 weeks later (as we wait with eagerly for the postie and completion cert) wwe get a letter from them about PPI's holding things up! At first I didnt pay much attention but then realised this would mean a delay in getting the certificate, and the comfort that this brings.
What is your particular firm's current policy on VAT refunds and the PPI issue? Were you mis-sold any PPI prior to entering into the IVA? If not, then you should confirm this to your IP and ask for a clear date as to when they will be likely to close your case.
