Just received my annual report to creditors. Two of my largest creditors are Westcott services £8222.79 and Moorcroft Debt recovery £6995.83. who have not made a claim yet. It states that if not made claim by 28th February they will be excluded. Do they not get any money. This takes my total debt down from £41540.00 to £20788.27, we are paying back £15960.00 so does this mean that the creditors will receive almost all of their money back in that case.
It is likely that they will claim so it will not be an issue. However, if they do not you are correct that it does not affect what you are paying back but means that those creditors who did claim will receive a higher dividend than was originally on offer. The creditors who do not claim are still bound by the IVA and cannot pursue you for the debt.
Both companies are well known and although a little tardy in submitting their claims I am sure that your IP will vigorously chase them up. They would be very silly if they did not claim, which would be to your other creditors advantage, however I share Michael's view that they will probably show up in the end.
