I think it gets passed back to the original creditor, but I could be wrong.
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
I thought it was the company that bought the debt - I seem to remember Melanie saying that Max Recovery was supportive of IVAs and I know they bought a couple of my debts.
Most creditors who have the debt or those companies that have bought the debt either before or after proposing an IVA appoint Agents to act on their behalf for voting for or against an IVA or any modifications thereof.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Actually Andy a meeting does take place (usually at the IP's address) and the creditors are normally represented by Proxy. But Minutes of meetings are recorded and a Report of such meeting must be lodged in Court. I can only remember one meeting in the distant past that a creditors represenative turned up in person.
Last edited by David Mond on Tue Oct 21, 2008 4:49 pm, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
