Create a body to mediate between Insolvency Practioners and those in an IVA.

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Petition Action

Create a body to mediate between Insolvency Practioners and those in an IVA.

Petition Details

An IVA typically lasts 5 or 6 years and the debtor must use the services of an Insolvency Practitioner (IP). Once signed up they are bound to that IP, regardless of quality of service. they have no access to mediation. See https://www.iva.co.uk/forum/another-petition-f145-t83980 for background.

Additional Information

Where there is a dispute between a creditor and debtor, the debtor can turn to the Financial Ombudsman for mediation / resolution. However, in an IVA there is no mechanism for mediation / resolution. The debtor has to rely on the insolvency firms complaints procedure and then the IP’s regulatory body. BUT … the regulatory bodies do not intervene. They will not alter or make an IP alter their course of action, even if proven incorrect. The debtor gets no restitution nor is the dispute settled

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