When a person enters the IVA do most creditors sell on the debts on at a loss and the new creditor acepts the IVA? I just wondered if banks etc keep these on the books or write them off.
A lot of my debts have been sold onto Max Recovery (Eversheads) Not all though the big one was with First Direct and I think they still have the account.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
Most of them are sold on, Eversheds/Max Recovery have a lot of mine,
plus Robinson Way.
I think the majority of them get sold on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks Lisa - I guess it was a dumb question but here is another one: Seeing as my IVA is 21 months forward now, would the RBS sell the debts on at this seemingly late stage?
They do usually write to you, I know all of mine did.
I think all of mine are now with a different company to the original.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
howdo pelder,hav,nt heard you for a while,a few of my small creditors sold my debt onto max recovery ,upto 3 years down the line,i dont think theirs a timescale,but they do write to you out of courtesy to let you know,i think the large creditors hold onto the debt to keep them in control.
Last edited by MRBLUESKY on Sat Apr 03, 2010 8:47 pm, edited 1 time in total.
None of my debts are with the original creditor, including the big ones.
They've all be sold on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
kallis3 wrote:
No, they've all been sold on to different firms.
If debts are sold on after you've entered an IVA, does that affect the IVA?
What I mean is, are there any chances that once an IVA is in place a company that has bought the debt can opt out and try and recover the full debt? Sorry if this is a silly question - but I need to know. Once in an IVA (if it's approved), is that it as far as I'm concerned, or is there any way that a creditor can opt out and try and recover the full debt?
