www.iva.co.uk

I used to be with Middlebrooks who were superb, my IVA was sold to Begbie Traynor who are of the chocolate fireguard variety. My annual review was due in October and I havent heard anything from them, despite me reminding them twice that it was due in October. Neither email reminder has been acknowledged. Should I be worried?

Second Q is around car payments. I pay £275 pcm for a car which is one of my allowances in the IVA. The credit deal has a few years to run but essentially there is no equity in the car. Family member has offered to buy me a new car. So, I will sell/trade in the current car and pay off the finance. There will be no gain for me financially as no equity in the car. My question is what will happen to the £275 pcm? I wont have to pay it anymore but will it have to go to the IVA. My Ts and Cs are clear that the car payment wont become available to the IVA as when the current finance ends, new finance for a new vehicle would have to be sought. But in the scenario above I wouldn't have any new finance so no payments to make.

The money has been reserved, by the terms of your agreement, for the purchase of a replacement. If you do not purchase a replacement then the money will no longer be an allowable expense and will be added to your monthly IVA payment. \you could be tempted to think to use it to 'repay' the donor of the new car, but, without a finance agreement in place with an accredited lender, I doubt creditors will accept such an arrangement.

On the review issue -- they have 2 months to complete the process. I would pen an email, direct to the named supervisor (IP) --- you can get his / her details from the insolvency register, by looking yourself up. This can then be escalated to their regulatory body if need be: https://www.gov.uk/government/publicati ... actitioner

Thanks Foggy.

The review is already overdue then, my start date was 2nd October and we are beyond 2 months past that. I cant use the register to find my IP as it still has my old one listed for Middlebrooks.

Any other ideas? Straight to the regulator maybe? If I dont do anything will their be consequences for me? Ive done nothing wrong after all.

As they are not responding to communication, yes, you can go straight to the regulators. They won't actually intervene, but might fine the IP or slap him / her on the wrist. It is usually the threat of a complaint that produces a response !