What to do If Things Go Wrong With Your IVA

wrong IVA

Whilst the vast majority of IVA’s are properly managed without any issues along the way things obviously can (and do) go wrong from time to time.

If you’ve entered into an IVA and are concerned about its ongoing management here are three easy steps you should take to ensure you get the arrangement back on track – and as quickly as possible:

  1. The first step you should take towards raising a complaint is to speak with your insolvency practitioner directly.  If you can’t resolve your concerns with the person dealing with your IVA company then you should ask to speak with his or her manager in the first instance and also ask for a copy of their complaints procedure.  This should tell you how you can raise a formal complaint and what sort of action you can expect them to take upon receipt of it.
  1. If the matter isn’t resolved at this stage you can escalate your complaint to the Insolvency Service.  You’ll find details about how to do this online. Once they’ve received your complaint they’ll fully review your points of concern and engage with your insolvency practitioner to see whether matters can be resolved.
  2. If the Insolvency Service agree with your complaint then they have various powers, which include issuing a fine to your insolvency practitioner or even revoking their licence in more serious cases.

What types of complaint can I raise?

You can raise any type of complaint with your insolvency practitioner.  However, should you choose to escalate your concerns to the Insolvency Service then your complaint must be about an ‘unprofessional’, ‘improper’ or ‘unethical’ action by your advisor.  What they can’t do is get involved with the finer details of IVA companies or alter any decision made on your behalf (unless, of course, it impacts into one of these three specific areas).

Can I raise a complaint about the Insolvency Service?

Absolutely.  If you’re not happy with the way in which the Insolvency Service deal with your complaint then you can ask for further details about how to escalate your concerns.

Should I wait until the end of the arrangement before I make a complaint?

No.  If you have any concerns throughout the duration of your arrangement then you should raise these as quickly as possible.  If you leave it until the end of the IVA then you risk valuable evidence being lost (such as recorded phone calls), witness recollections etc.

As with any type of complaint it’s always best to speak out as soon as you possibly can.  By doing this you can work closely with your provider to hopefully reach some form of compromise.  After all, most issues arise due to pure misunderstandings so never rule out the fact that you might be able to resolve your concerns quickly and without the need for further intervention.  Any reputable advisor will be eager to ensure your peace of mind so don’t be afraid to pick up the phone and speak to them in the first instance.

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