Completion with no problems? After taking my daily dose of this forum, I was wondering whether anybody has recently completed their IVA without problems? Anybody received their completion certificate within a reasonable timescale? How about completion without PPI delays?
I'm unsure whether the nature of the forum (excellent as it is) exposes the darker side of IVA's or whether the current problems are as widespread as they seem.
Hi Sterling - unfortunately the closure process for alot of people has been hindered by the PPI issues - I sincerely hope this is resolved soon and closures can start to happen in a matter of days/ weeks rather than months.
This forum is an absolute god send to people who are in debt and seeking help, to those already in an IVA and to those who have come out the other side and continue to use the forum as a mechanism to stay on the straight and narrow (me included).....the forum will always have it's "dark side" and will always tend to focus more on the issues that cause problems ...that is only natural....
For me - the forum is still a very real lifeline for alot of people who really need a helping hand through some very difficult months / years.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
It very much depends who your IVA provider is , as to the timescale and willingness to close with as little delay as possible, whilst at the same time ensuring all creditor requirements are met
May I ask , are you close to making your final payment, or just starting out ? Also, who is your IVA with ? This may enable a more specific response dependent on who your IVA provider is
Last payment made April 2012
Certificate received 1st Nov 2012
I have read recently about timely closures on the forum so someone may be able to share their experience with you. Like everything all too often we only hear the horror stories.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi! I made my final payment in feb and my husband made his in may! We both received our completion certificates in June which we felt was very timely! No ppi was claimed as we were told by payplan that the decision was ours as to whether to sign the forms or not! We chose not to and was all done and dusted! We were impressed with the closure process of payplan and hope this is positive to some posters on the forum nearing completion
I made my last payment in April 2012 and my case was passed to G/T closures in September 2012. I think I was looking for some reassurance that some IVA's progress through to completion without problems.
I have had to enforce some delays in closing a few cases, but on the whole it is business as usual within our practice. The delay in closing cases is not necessarily the IP's fault, but yet another symptom of a banking industry that lent to much money to the wrong customers, sold them products they did not need, and perhaps caused the ultimate insolvencies we are now having to deal with. But in common with most things I have seen over the last few years - it is of course the IP's fault!
That is great news Mel - just a shame the banks did what they did and made it far too easy for people in gaining the extra credit in the first place....wish there were more IP's around that share your way of working and show the same amount of support and encouragement to their customers !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I made my last payment on 1st October 2012, Judith from DFD chased up all the outstanding PPI, I have one outstanding. Judith chased up the closure team on my final review and I had to pay a small amount more to finalise the dividend required 2 days ago. The accounts team have told me it is taking between 3/6 mths on average to issue certificates due to the ppI, however they did tell me because all of my information was nearly in they couldn't see it being that long. When you get to the end it feels like an eternity just waiting to know if you have achieved what you needed to. But in retrospect what you need to do is checkout if all your creditors have been contacted with regards to ppI. In the last two mths the company responsible for chasing the ppI on my case had to chase creditors they had missed on the original review back in January. So it appears in my case that it isn't my IVA company holding up the proccess but the company employed to chase the PPI. So it is worth asking the question leading up to your final payment, can someone check with the company employed where you are at, in terms of PPI, so someone can start chasing it for you.
from reading lot of peoples posts it looks like PPI is the big hold up.
Please correct me if im wrong but my IP has said that if the IVA is accepted they will perform PPI straight away and give me the first £500 and then share the rest between the creditors.
Would this mean that if my IVA is approved that i should hopefully have an easier completion? Or have I misunderstood?
NoCash2012, I dont think you have misunderstood. Some IPs go as low as £250, some allow you to keep all the 8% interest only on the PPI etc, they all have fluctuating criteria. What amazes me though is that, above the sum of £500, they want back what they originally SHOULD NOT have sold you in the first place. I dare say PPI payments you made contributed to a fair propotion of your debt which is why you sought an IVA. I wonder what other posters think on this.
Completed IVA - August 2012 pheeeeeeeeeew
Only my opinion - Nothing More Nothing Less
