Hi, I've been swapped from Baines and Ernst debt management to Knightsbridge insolvency for iva. I've been paying for about 4 months and I keep getting letters from the people I owe with the balance on saying nothing has been payed to them since it started. Is this right? Were is my money going?
It does take time to start to distribute funds to creditors and it may be that this money is fees for the company.
Contact Knightsbridge and explain about these letters. You will find that they will stop once the IVA is up and running.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi Claire Your IP will be holding this in a special client account in your name. If and when a dividend becomes available they will pay it to creditors in accordance with the terms of your IVA.
