I finished my 5 year IVA arrangement in April 2013 (with all payments made properly) but still cant get a 'Completion Certificate' from IP! Apparently due to the usual excuses of PPI claims etc? However, although my payment arrangements have been completed some time ago - am I still liable financially (inheritance, new job etc?) until Completion certificate issued? Should the certificate ever be produced - will it be back dated to the end date of arrangement? All help appreciated!
It is not equitable for your IP to insist that you pay over any windfalls received once you have complied with all of your contractual obligations - but you really should get this confirmed in writing by them to be sure.
Whereas it might not be ethical, some firms insist that this obligation will be acted upon, should the opportunity arise, until such time as the completion certificate has been issued.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I wonder if there has been a case where inheritance was paid into the IVA even though all payments had been made because the IVA had not completed due to PPI ?
Who are you with, seems an extremely long time 11 months to wait, do you have any PPI outstanding for them to claim, if so why not do it yourself, surely it must be quicker.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
Hi Martha
It is not equitable for your IP to insist that you pay over any windfalls received once you have complied with all of your contractual obligations -
In my full and final IVA it was made clear to me that any windfalls until I received the completion certificate were caught, but the lump sum was wanted in good time after the creditors meeting.
Are full and final vs 5/6 years different in equitable treatment ?
Martin
edit: I'm not saying I'm unhappy with the IVA I entered in to (and is now almost finshed, but a modification to the windfall clause would have been attractive.
Last edited by martinw on Thu Feb 20, 2014 7:29 pm, edited 1 time in total.
Hi All - many thanks for your posts and advice.
I'm with DFD and although my IVA arrangement finished 11 months ago - they wont issue Completion certificate - apparently due to o/s PPI claim. However, if I'm still financially liable until the CC issued - how can this be right?? In other words - the IVA was not for a 5 year period (which I complied with) - it was for as long as the IP want to keep it open and claim delay due to PPI claim - and still take monies from me way beyond the amounts and timescale I contracted to?? I was told I would be debt free in 5 years. This is not true! Not sure about PPI policies being mis-sold - think it's time IVA's & some IP's were called to account for what they sell? Sorry to some on here in this industry if they provide good advice - but am feeling very bitter over the total disregard for the individuals (such as myself) who have been through a very difficult and stressful 5 years believing it will soon be all over - only to find out it may never end and the IP may not be representing your best interests - just earning themselves more fees at your expense? If you haven't guessed - very angry and totally dissolutioned!
