www.iva.co.uk

Hello to all again,

I paid my last paymant 4 weeks ago to finalise my IVA, this was great news for me of course.

However, I've had a letter telling me my IVA cannot be finalised and they cannot tell me when it will be due to a change in VAT payments. I'm told the VAT must be recovered and distributed to my creditors first and they cannot do anything until that happens. Meanwhile I am still getting letters from my creditors and I still can't do anything about resurrecting my credit rating!

Is this normal? Is it true?

Is there anything I can do to speed this thing up?

hi mohawk too technical for my brain but the pro's will be along soon fd xx

Hi Mohawk --- are you with Tenon ?

Have a peek here:

http://iva.co.uk/forum/topic.asp?whichp ... 759#389120

I'm with an accountancy, but its Bulley Davey.
I have to say its all gone very smoothly until now, but I am a bit despondent to hear they cannot tell me when the refund from HMRC will be dealt with. On those grounds, though unlikely, it could be months or even years.
Not overly happy.

This will not be allowed to carry on indefinately. It is a very recent change in what happens regarding VAT and the industry is coming to terms with how it will deal with this. Mohawk,what sort of letters from creditors?? Continue to pass these to your IVA firm,remember that creditors included in the IVA cannot hassle you like this.

When did your IVA start,because it will take 6 years to fall off your credit report from the start date.

Paul

Ching Ching...I quite like the refund of vat...it all boosts the dividend!! I do feel sorry for the poor IPs who now have to do a whole lot of work that they won't see a penny for.

There should be no reason why cases cannot be closed. The VAT refund can be dealt with as easily with a closed case than with an open case.