www.iva.co.uk

Hia,

Just wondering how long it takes to get a certificate of completion through. I submitted my Full and Final payment in March 2011, and in July 2011 phoned G.T due to a move of address and ask them whether they had sent my Completion Certificate/Letter to my old address. They said it was still in the process of completion. We're rapidly approaching October here guys!

Anyone got any ideas on how long I should wait for it to come through. Tried phoning them again 3 times yesterday, but no answer....

Hi Taliesin - I am usre there is a good reasons why it is taking a while - Karol from GT posts on here and no doubt will respond to you as soon as she sees your post. She soon gets on the case if any issues pop up.

regards,

I hope you get that all important piece of paper soon taliesin, hopefully Karol will be along at some point with some advice. x

Hopefully Karol will spot this post and be able to explain to you why things are taking so long.

No real need to take 6 months plus to send out a certificate though is there?!?

Paul

Hi taliesin, i enquired recently to GT to find out how long it would take to receive the completion letter, i was told it would be a 3 to 6 months wait, i see you have waited 6 months, i think they will be sending it out to you soon, they must have a lot of completion letters to send out.

Does anyone know what is entailed behind the scenes in producing a completion certificate, i'm sure many folk would be interested in reading about what is involved in this process.

Many Thanks David.

I'm not too sure why this paperwork should take so long to issue once an IVA has ended - but perhaps Karol can explain some of the difficulties they may be having internally to set clients minds at rest that they are being looked after.

I'm sure she will pick up on this on Monday. If not, her contact details can be found via the 'Ask a Question' link on the left hand side of the page.

Email her directly.

Thanks guys. I'll keep an eye open for Karol. I'm just keen to get it all done and dusted. I've done my bit as best I can and am just trying to draw a line under it all..

MelanieGiles wrote:

I'm not too sure why this paperwork should take so long to issue once an IVA has ended - but perhaps Karol can explain some of the difficulties they may be having internally to set clients minds at rest that they are being looked after.

Indeed.

Let's not forget that once a client has finished paying all of the scheduled installments of the IVA, the total amount paid includes all fees stated in the proposal. These fees must include the final stages of obtaining the completion certificate. The client has now paid for that up front. To then take months and months longer than necessary to issue it is unprofessional in my opinion.

Hi i found this excerpt from Andy Davi's book Real Life IVA Stories, interesting and thought others may wish to see it also.

Regards David.

Once the last payment for your IVA has been made, it is the Insolvency Practitioner’s job to officially conclude the arrangements and issue you with a certificate of completion. This might seem like a formality, but it is a vital part of the process and must be done quickly. The issue here is that the case does not go off the register until it is officially closed. In such a case, the real danger is that the ‘windfall provision’ is there for as long as the case is open. Even though the IVA may be completed, if it hasn’t been closed by the Insolvency Practitioner and removed from the register, the creditors still have the right to grab any windfall that might come your way, even though they no longer have the right to demand monthly payments from the client any more. That puts you in an extremely vulnerable position, and if money were to suddenly turn up the creditors would be able to seize it. It is important to be aware of this issue, and to ensure that your Insolvency Practitioner concludes the IVA quickly.

Mmm, well it seems that there is nothing from Karol on this thread. I'll try yet again to get some closure from Grant Thornton today via the ol' dog and bone. Seems daft that I had a limited amount of time to get my full and final payment to them, but now they can take as long as they want in closing things down. I've been in debt for longer than I care to remember and I really don't want see in 2012 with this still rumbling on.

Click on the 'Ask a Question' link and Karol's details are on there. Email her and she will do her best to sort you out.

olydak wrote:

Hi i found this excerpt from Andy Davi's book Real Life IVA Stories, interesting and thought others may wish to see it also.

Regards David.

Once the last payment for your IVA has been made, it is the Insolvency Practitioner’s job to officially conclude the arrangements and issue you with a certificate of completion. This might seem like a formality, but it is a vital part of the process and must be done quickly. The issue here is that the case does not go off the register until it is officially closed. In such a case, the real danger is that the ‘windfall provision’ is there for as long as the case is open. Even though the IVA may be completed, if it hasn’t been closed by the Insolvency Practitioner and removed from the register, the creditors still have the right to grab any windfall that might come your way, even though they no longer have the right to demand monthly payments from the client any more. That puts you in an extremely vulnerable position, and if money were to suddenly turn up the creditors would be able to seize it. It is important to be aware of this issue, and to ensure that your Insolvency Practitioner concludes the IVA quickly.

I assume that any windfall coming in after your last payment but before your IVA completion certificate arrives would result in extra charges from your IVA firm to "sort out" the distribution of the extra cash!!
No matter what people say the industry is still hampered by bad practice!!!
Paul

Hi Taliesin,

I hope you managed to contact Karol through the ask a expert link, Im sure when Karol is next on the forum it will be picked up.

I hope this is sorted for you quickly, I would hate to be waiting that long.