Iva finished today

[mickhaynes2]

Hurray, just had call from IP, had to wait 21 days as 2 creditors, never made a claim,
and they still haven't, but what happens if they contact me, in 6/12 months time, asking for money

[Lisa Thomas]

It makes no difference - they were given notice to claim and did not so have forfeited their right to claim in the final dividend.

They cannot pursue you for the balance after the IVA is closed - this is why the IP send s them a formal notice giving them one last chance to claim.

Well done on reaching the end and hope you receive your CC from your IP quickly!

[mickhaynes2]

Hi Lisa, one of the Debts was a joint Bank account, with my Wife, we have heard nothing
since Iva started, 3 years ago, the Iva, was just in my name

[Foggy]

Hi Mick -- you are absolved from the claim on the joint bank debt -- however, your wife is now fully liable for the balance, if and when the bank contact her.

[Lisa Thomas]

Yes she will be responsible for the shortfall.

I'm surprised she has heard nothing since your IVA started but presume that this will now work its way to the top of their list at some point now that your IVA has finished.

[mickhaynes2]

Hi, in that case, why didn't they come forward, when my IP contacted them,
gave them 21 days but had nothing back, it is the only black mark against my name,
on Equifax, will it be worth my wife making them an offer, also how do I get it removed,
as they cant come after me for the money.

Mick

[Foggy]

Hi, in that case, why didn't they come forward, when my IP contacted them,
gave them 21 days but had nothing back, it is the only black mark against my name,
on Equifax, will it be worth my wife making them an offer, also how do I get it removed,
as they cant come after me for the money.

Mick

They are often open to lump sum offers, or even a repayment schedule.

[Michael Peoples]

Any adverse credit remains on your file for six years so perhaps she should keep her head down and say nothing. The debt will fall off the credit file in three more years and become statute barred so personally I see no benefit in contacting them.

[Foggy]

Any adverse credit remains on your file for six years so perhaps she should keep her head down and say nothing. The debt will fall off the credit file in three more years and become statute barred so personally I see no benefit in contacting them.

This is true -- don't prod a sleeping bear -- but do be prepared for it to stir on it's own. However, statute barring will not make the debt go away -- it will just become unenforceable, but will always be lurking.

[Ryan]

I'd have to agree with Michael and Foggy re the current account.