Why do I keep getting statements from my creditors showing no payments have been made ?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
 
 

Diane.m

User avatar
Posts: 1
Joined: Wed Apr 27, 2016 8:52 pm

Post by Diane.m » Wed Apr 27, 2016 8:52 pm
Why do I keep getting statements from my creditors showing no payments have been made to them from my iva with freeman Jones.I am four years into my iva with them.so where is my £588 per month actually going?
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Wed Apr 27, 2016 9:02 pm
Many creditors do not reflect dividend payments on the original debt accounts, but open a dummy account to process these as the "IVA account" is under totally different terms to the original debt. Rest assured the monies due to the creditors are going their way.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Thu Apr 28, 2016 11:28 am
Also they might not pay a dividend until the end of the case - have they reported dividends paid in your annual reports?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Steven Hewitt

User avatar
Industry Expert
Posts: 138
Joined: Fri Mar 16, 2012 12:45 pm
Location: United Kingdom

Post by Steven Hewitt » Thu Apr 28, 2016 11:39 am
Hi Diane.m,

Although the creditors statements don't show any payments, your annual report does give a breakdown of the total dividends paid out on your IVA.

I appreciate that this is a general view and if you'd like more specific figures, paid to each creditor, then this is something we can do for you.

If you'd like to contact me directly you can email me at Steve.hewitt@freemanjones.com and I'll arrange this for you.

I hope this helps.

Regards
Steven Hewitt - a member of the team at Freeman Jones
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”