Having had my Iva terminated approximately 3 years ago I have recently found that I have a restriction lodged with the land registry which the Iva company that I was with say they won't remove despite my Iva termination and issue of certificate of termination , is this correct ? Or should this have been removed upon failure of Iva the company itself are being less than helpful regarding this and are refusing to remove restriction
Even after termination of an IVA the trust created exists unless formally severed. It seems (and I am no expert on this) that assets forming part of the terminated arrangement can still belong to the creditors, So the equity in the house and thinbgs like PPI refunds are still bound by the IVA. I would suggest you seek legal advice on this point.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
My Iva terminated 3 years ago due to breach , I have had no contact with company administering this Iva during last 3 years , I have since found out there is a restriction on my property , I have called company and they refuse to remove the restriction and have stated I need to pay 81,000 to get removed how is this possible when I'm no longer in Iva it's absurd
I stared IVA December 2013 with DEBT FREE DIRECT. Got made redundant June 2016 and offered final settlement figure to which was accepted. Told in November 2016 my IVA is now closed and they sent me 3 x pieces of A4 paper (not on headed) with supervisors signature saying closure of IVA and my supervisor withdrawn now. And Emails and letters saying closed aka not signed but these were on headed paper from Debt Free Direct.
1 year later October 2017. I have divorced and house put up for sale and offer accepted (early stages) with solicitors.
However, land register document online shows in Category C that the priopropitor Restriction is my old IVA supervisor.
NO CHARGES.
I am also showing on the Insolvency Register still!
Debt Free Debt no longer running and my Supervisor no longer trading shall we say politely.
Please help I need to sell my home ASAP and I am not sure no more that my IVA is closed and they just took my money.
Contact them and see what they say -- hopefully they also have access to old records. It does sound like the bits of paper you ahev are the completion certificate ( did you get a final report too?) ... the term "certificate" in a misnomer. Mine, from GT was simply a paragraph on an unheaded bit of A4 ... but it did the job!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
However I am more concerned about the restriction on my land registry.
But I do not have any charges except my current intereat only mortgage of course.
I have managed to get a new mortgage for a smaller property which currently in progress.
I need to know how to get the restriction off my land registry to sell my current home.
Also why am I still on insolvency register and it's on my credit file as satisfied and £0 balance with default. Do i still have to wait for the initial 6 years if so who advise them if my supervisor was removed from his position
However I am more concerned about the restriction on my land registry.
But I do not have any charges except my current intereat only mortgage of course.
I have managed to get a new mortgage for a smaller property which currently in progress.
I need to know how to get the restriction off my land registry to sell my current home.
Also why am I still on insolvency register and it's on my credit file as satisfied and £0 balance with default. Do i still have to wait for the initial 6 years if so who advise them if my supervisor was removed from his position
In the normal course of events the supervisor would tell the Insolvency Service at the same time as he issues the certificate and final reports. they, in turn, tell the credit reference agencies and the IVA will drop off of credit files at the 6th anniversary of the start date.
Along with the A4 bits you received, was there also a final report (account of payments in and dividends / expenses out) ? If so, send copies to the Insolvency Service.
Regarding the restriction, I am hoping Aperture can intervene here, as the "new DFD".
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Well -- it definitely sounds as though you have completed --- so send copies to the IS . You can initiate contact via the link on the search pages.
I would speak to LR and explain that you have the completion papers, but the outgoing IP omitted to submit an RX4 and is no longer acting as an IP at all. They might be happy to take the completion papers as evidence that the restriction should be removed ---- other than that the Insolvency Service might be able to step in.
I would have though there would be a system whereby you can dispute a restriction and they then give notice to the named person with the interest of the dispute to either agree to having it removed or submit evicence to it being upheld. Failure to respond would mean the entry is removed --- clutching straws here, but there must be some sort of dispute mediation service.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
If your IVA completed successfully and the IP cannot help you should be able to send your completion certificate to the land registry to get the restriction removed.
