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Posted: Mon Oct 12, 2015 12:08 pm
by Janet.02
I have had a conversation with our IVA company this morning , our account manager has left and we were not told , so we are dealing with various people now , who don't know us and we have been told that some of our debts have increased in value , how is that allowed.
Posted: Mon Oct 12, 2015 12:12 pm
by kallis3
Hi,
Who has told you this? Which company are you with?
Posted: Mon Oct 12, 2015 12:46 pm
by Michael Peoples
Debts cannot increase after the meeting of creditors unless statutory interest is applied. It is possible the debts were understated in the original proposal or you are not in an IVA at all. It is not uncommon for people to think they are in an IVA when in fact it is a DMP and debts can rise in these arrangements.
Posted: Mon Oct 12, 2015 12:51 pm
by kallis3
Looking at your previous posts you were going to be paying a full and final last month - did you manage to do so?
Posted: Mon Oct 12, 2015 4:49 pm
by kallis3
Just bumping this one back up.
Posted: Tue Oct 13, 2015 10:12 am
by Lisa Thomas
Ask your IP to clarify which debts have increased and how? They have to adjudicate claims before doing a dividend but some firms may pay more attention to these than others...