I recently received a cheque relating to an old IVA that i had with debt free direct saying that the creditor had not claimed the debt. The IVA started in 2005. Am I ok to cash this cheque or do I need to wait in case the creditor comes back to claim.
If you have had the completion certificate, which I assume you will have if your IP is making refunds, then the creditor has missed the boat and cannot come to you for the money.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi Paula330,
Please drop me an email (address is in my profile), with all your contact details and I will get in touch to discuss this with you further.
Look forward to speaking to you soon.
Regards,
Debt Free Direct
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
Laura.Harrop wrote:Hi Paula330,
Please drop me an email (address is in my profile), with all your contact details and I will get in touch to discuss this with you further.
Look forward to speaking to you soon.
Regards,
Debt Free Direct
Hi,
Thanks for your reply, can you offer me some advice please?
Paula
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
Unclaimed dividends are either distributed among the other creditors or returned to the debtor if it is uneconomical for the IP. You would normally be given a list of the creditors who were owed money and it is then up to you to divide the funds out. In reality it rarely happens and in the odd occasion I can only assume the debtor keeps the money. The creditor cannot pursue you for the debt that was included within the IVA but ask your previous IP for their advice as to what to do with the cash.
Per my earlier post your Supervisor would not send you the funds if you weren't entitled to them. The creditors will have had notices of the final dividends and would be omitted from them if not claimed in time.
