Good morning and hello!
So... I was one of the silly ones and got myself wrapped up with payday lenders.
However, this was while I was young and daft, and now I am 4 years into a 77 month IVA.
I have recently gone to town with complaints on the payday lenders and have had 6 of the 10 accounts closed completely, which I have informed the IVA supervisor about (DFD) and they are currently going through the process of removing them. Some of them include those who didn't stake a claim at the beginning of the IVA.
I understand that all creditors will be included in the IVA as the annual statement shows. I also know that they will not be receiving payment until they make their claim which can be during the IVA or at the point of completion. This means the funds are being held by DFD to distribute when the time comes.
My question is this. If the funds are being held for one of the companies who have confirmed account closure, will the funds being held for them be immediately distributed to my other creditors, reducing the overall amount owed? I have asked DFD, but they haven't yet responded I just wondered if there's anyone with similar experience.
Many thanks