have IVA can i be taken to court for old dept

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p-h

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Post by p-h » Wed Feb 21, 2007 9:06 am
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we have just gone throu an iva in dec,can i still be taken to court for an old dept that has came to light.and how would it affect our iva.i need a reply a.s.a.p
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neverending

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Post by neverending » Wed Feb 21, 2007 9:51 am
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Hi
Inform your IP of the new debt and they will include it within your current IVA [there will be a provision for this].It is not uncommon to have a debt added because of an over sight,it happened to me.
Depending on the size of the debt will determine if it will affect your final dividend enough to warrant the possibility of extending your IVA to accomodate this debt.
How much is the new debt and how much was your total debt in the IVA and your payments ??
Andy Davie
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Oliver

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Post by Oliver » Wed Feb 21, 2007 11:02 am
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Great advice from Neverending. Inform your IP about this new debt and it is likely that they will be able to include it within your IVA. As Neverending rightly states you may have to make up a few months payments at the end of your IVA to top up the dividend needed.



Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
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Oliver
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