www.iva.co.uk

Hi

I took out a 60 month IVA in August 1998, as you can gather it is years since this was fully completed & a notice of full implimentation issued by the insolvency practioner.

However, I have been contacted by a company called Thames Credit acting on behalf of Aktiv Kapital First Investment, chasing payment of a debt that was included and has been settled in this IVA.

Looking on the internet Thames Credit and Aktiv have an amazingly bad reputation, they buy debts from lenders which in my case was GE.

How do I stand legally?, do they have any right to persue me , has the original lender (GE) sold on my details & debt in contravention of a settled IVA, are they (Thames) acting within the boundarys of the law.

As you can imagine after all of these years this has come as a really big shock, particulary as they are chasing a substancial 5 figure sum.

Any help or advice will be most apprechiated.

Hi and welcome.

If this debt was included in your IVA, they cannot pursue you for it.
I am not sure exactly how you can go about sorting this. You could try ringing and speaking to them about it.

One of the technical experts will be along shortly to advise further.

You do not owe the debt if it was included in your IVA, and even if it was not it is probably statute barred now in any case.

A debt is considered Statute Barred if a creditor has not contacted a debtor for a period of 6 years and no action has been taken on the account

Although the debt is still legally acknowledged as being owed, the creditor is not able to take any legal action against the debtor in order to recover the debt. It is considered unfair if a creditor or debt collector misleads the debtor into believing the debt is still legally recoverable. It is also considered an unfair practice if the creditor or debt collector press for payment after the debtor has stated they will not be paying the money owed. This could amount to harassment contrary to Section 40(1) of the Administration of Justice Act 1970.

As it was included in the IVA, they can't claim it anyway. You would think they would check up about these things, or perhaps they are trying it on in the hope that someone will cough up?

Actually thats what some of them do Jan.
My brother was contacted by a debt collector over a debt for a car. He had actually paid it off a good 8 years before but the guy on the phone wouldnt have it.
I sent him the Limitations Act for him to have a read of and he rang the guy back and quoted it to him.
The guy nearly choked on his phone and said "sorry MR **** this account has been paid in full"

Just shows you.

Many thanks all of you for your help and advice.

Thames Credit have stipulated that I still owe this debt and are pressing for the so called outstanding balance to be paid.

This is clearly unfair and totally misleading, they are clearly hoping I will cough up a large sum of money on the basis of their letters.

Who should I contact to complain about them and can I take any form of legal action against Thames Credit/ Aktiv kapital?

I can at least breath a sigh of relief, thank you all very much

I would ring them and tell them that not only can they not persue you for a debt that has been included and settled in an IVA BUT even if it hadnt, the debt is now statute barred according to the Limitatios act.

Let them do their best, it wont get them anywhere.

I love it when you can get one over on these people!

As Mrs S says, let them do their worst. The debt is settled and you owe them nothing.

Well said Jan