creditors who have not previously made a claim

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hara33

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Post by hara33 » Sun May 31, 2009 9:58 pm
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Hi, During the middle of your IVA, can creditors who have not previously made a claim against you decide to do so? Could this possibly have any effect on monthly payments or the length of the IVA? I thought it was supposed to be fixed.

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Adam Davies

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Post by Adam Davies » Sun May 31, 2009 10:03 pm
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Hi
Payments are not fixed and can change throughout your IVA, depending on your disposible income. If any new claims come in then they will be bound by your IVA as long as they do not materially affect the dividend to your creditors. If it does then the IVA can be extended, if agreed by your creditors, or be failed.
Regards
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Sun May 31, 2009 11:08 pm
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Are you talking about creditors which were declared on your statement of affairs, or creditors who were originally missed off? And has this actually happened in your case?
Regards, Melanie Giles, Insolvency Practitioner
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