My IVA completed in 2013 and have had no problems with getting my credit rating back to normal with the credit reference agencies.
Today I received a letter from the co-op bank who stated that the outstanding balance of my account had been sold to a company called Link.
The co-op were one of the creditors on my IVA and I assume were receiving payments from my IP (originally Synergie partners then cleardebt)
I assumed that as the iva was now complete that this debt would be written off or am I mistaken?
Nothing to worry about. You are covered. If they should get in touch then just send a copy of your completion letter and tell them to do one.
Just keep an eye on your credit record in case they try to default.
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
Seems a long time for them to be still bundling up written off debts with the debts on sale. However, as Kallis says, sight of your completion certificate should keep them quiet.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I have written a letter of complaint to the co-op bank with a copy of my completion certificate asking why they have sold a debt that should have been written off.
I'm still waiting for a reply
Also wrote to Link financial with a similar letter with my CC. They are now investigating. I don't know why when i have provided my CC.
Again still waiting a reply.
Is this a matter of fraud by the co-op bank selling a debt on that should have been written off?
Next step if I don't get the required result is the Financial ombudsman service.
Debts are parcelled up and sold in large tranches and this is not uncommon. Once Link have a copy of the CC they should be able to deal with this between themselves and CoOp. I doubt if you will hear anything else.
Many thanks for your comments and help. I got the outcome I required.
Link investigated and said "nothing to pay"
The Co-operative said the same with a very apologetic letter and a cheque for £100 for the inconvenience. Result!
A note to all, don't ever get rid of your iva paperwork and letters. They just might come in useful years after completion.
gledhill4911 wrote:Many thanks for your comments and help. I got the outcome I required.
Link investigated and said "nothing to pay"
The Co-operative said the same with a very apologetic letter and a cheque for £100 for the inconvenience. Result!
A note to all, don't ever get rid of your iva paperwork and letters. They just might come in useful years after completion.
Very wise words !!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Very quick service and credit to the CoOp. We all make mistakes but they dealt with theirs quickly and effectively which is really all you can ask. Enjoy the cash.
the same happen to us lloyds sold on a debt to link and i sent letter of completion to link they said lloyds should never have sold on the debt which they admitted was a mistake all taken off credit file all sorted.
full final paid over 29/2/16 cc arrived 12/4/16 its all over
Mine is all filed away - I'll never get rid of it.
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
