Are you saying that your IP advised you not to include the Northern Rock unsecured element into your IVA proposal? How are you managing to continue to pay it - I suspect it has falsely been disclosed as part of your mortgage payment?
If this is correct, it is very bad advice, and may have caused you to make a misdeclaration to creditors in your IVA proposal and is perhaps one of the reasons why Northern Rock think that rejecting IVAs is a good commercial move for them.
If your IP did disclose to the other creditors that the Northern Rock unsecured element was going to continue to be paid - and they voted on that basis - then potentially this would be OK - but is against the generally accepted and lawful principle of equal shares.
This sort of advice is what gives my profession a bad name - but maybe there is more to this than meets the eye. I sincerely hope so.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk