www.iva.co.uk

I completed my iva two years ago and yesterday I received a letter from dfd and a cheque for just over £2300. The letter says one of the creditors has returned the final dividend cheque they sent to them, it doesn't say which one it was and there's a note saying I must cash the cheque in 90 days or they will cancel it and send to a charity. The note says that now the creditor must reclaim the funds from me if they want. I'm at a loss because I'm worrying that I will be chased for this. How long should I hold onto the money for?

I thought the iva was over but now this is happening.
I think that I would have paid well in excess of 90 percent of my total debt with the ppi after the claims company had taken the cut.

Has this happened to anyone? Or does anyone know what the rules are

Thanks in advance

Hi,

Find it strange that they say you need to cash it or they will send it to a charity!!

I am hoping that Laura from DFD will pick up on this tomorrow and give an answer.

I've had small amounts £45 upto £80 returned but no terms or conditions, I just banked it and spent it.

Cash it and chuck it in an ISA

If nothing happens after a year, I'd keep it.

Just my opinion!

Thanks, yes I'm going to cash it and then it's just how long to keep it for,nothings ever simple

This is a GOOD thing. They have received some money back in your IVA and are allowing you to keep it.

Go bank the cheque!

I've emailed dfd and trying to get more information. I'm also going to try emailing dfd forum support as well to see if I can get some clarity on the position. I'll post an update when I get one.

Why bother? DFD have already written to you explaining the situation and giving you authority to Bank the cheque...

Hi lisa. I'm banking the cheque today. I just want to know the potential or any timescale the creditors could come back to me and who it is. I could do alot with the money but it's also a lot to have to find if it is queried.
I save for everything now before I buy and am planning for a wedding so it could be really positive.

I've not had any financial information since 2013 and that only related to the previous year so suppose I feel I should ask. And actually it would be nice to see how much I did pay back with ppi. It should have gone into the 90+ percent.

I think the timescale has passed which is why they have returned it to you.

Best of luck for the wedding!