Should I be worried about late payment to creditors ?

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exonian

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Post by exonian » Tue Jul 22, 2014 10:54 pm
I've had a debtor contact me a few times saying that they have not been receiving payments via my IVA/ISP.

After writing a few times to my ISP, they eventually came back with the following reply:

"I have looked into the situation with you and can see that this should now have been resolved, there was an issue where you case was not distributing the funds but now that you have brought it to our attention we have been able to rectify this. They should have started to receive their distributions again now"

Should I be worried about this?

Should the creditor be paid IVA payment arrears?

Is my ISP obliged to give me an aggregate figure of all payment totals to my creditors, during and at the end of my IVA?

The debt/debtor that I have referred to is an isolated debt within my SOLE IVA, and my wife is currently making her own token payments to the debtor, outside the IVA.
This will mean that she will continue to pay her contribution even after MY IVA, has finished, therefore a decreasing balance on the debt is PARAMOUNT to her/us, and this balance has obviously not been decreasing correctly and accurately, which will leave an inflated balance to pay, which is not right or fair!

Advice/guidance please?
 
 

Foggy

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Location: United Kingdom

Post by Foggy » Wed Jul 23, 2014 9:15 am
Hi, assuming your firm is entirely above board, they will make arrangements for the "missing" creditor to catch up with payments so that, in the end, they get their agreed share of the dividend.

Who are you with ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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