Hello. I have just had a,letter from an old account saying they got it wrong and that as I was in a POI when it was checked the cheque would be sent to the company I was with. As the VIA was completed what will happen to the money?
The money is likely to still form part of your previous iva agreement as it relates to financial activity prior to your iva - it potentially could be distributed amongst your creditors.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
It is down to ecomomics at the end of the day -- some IP's will distrinute it some will return it to you if the costs of digging out old records and re-contacting former creditors simply makes it an unecomomical exercise. Technically it belongs to the creditors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
