www.iva.co.uk

Posted: **Sun Mar 16, 2008 9:27 pm**

Do I have to include all my creditors in the IVA?

Posted: **Sun Mar 16, 2008 9:29 pm**

Hi bryan and welcome to the forum

Yes - you have to include all your unsecured creditors in an IVA proposal.

Posted: **Sun Mar 16, 2008 10:36 pm**

Bryan, as Melanie says, all creditors must be included.

Is there a reason why you feel you would need to exclude one ?

Posted: **Mon Mar 17, 2008 12:05 pm**

I didn't include La Redoute or my First Direct overdraft at that time and Debtmatters were aware of this. Nothing was said about it.

Posted: **Mon Mar 17, 2008 12:17 pm**

Hi be VERY careful and THINK this through throughly, as missed/forgotten creditors CAN come back and give you quite a nastie shock!!!!!!

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Posted: **Mon Mar 17, 2008 12:39 pm**

Joh71262 have you now notified Debtmatters now ?

How are you paying the debts - Your IP has an obligation to notify all creditors and as they knew about it it should have been included. To exclude them is not really acceptable.

Posted: **Mon Mar 17, 2008 12:49 pm**

could you tell me why i couldnt put in student loan. I have to pay that separately

Posted: **Mon Mar 17, 2008 4:14 pm**

As said before all unsecured creditors need to be included

Joh71262 -do the ones not included in your iva have any balances on them. If so how are you managing to pay them in addition to your iva? I was under the impression that this could not happen..

JuliaE - I would wait for an expert to answer as I know there are a few types of student loan (depending on when they were taken out) and whether they can be included in iva's is dependant on which type you have
Emma

Posted: **Mon Mar 17, 2008 4:30 pm**

Hi
My Understanding is this
Income Contingent Student loans (which were used from c1997 onwards) can not be included in an IVA and would be payable outside of the IVA. Student Loans (old style) taken before this can be included in an IVA (but not bankruptcy) but are often kept out if they form a big percentage of the dent as Student Loans Company will sometimes demand a high dividend (up to 90p in the £). This is usually allowed by the IP and then in turn the creditors.
However I seem to recall a recent thread where Melanie confirmed that all student loans mustbe included in an IVA,so please wait for Melanie or Ian Millington to confirm or change this
Regards

Posted: **Mon Mar 17, 2008 11:10 pm**

All student loans should be included in the IVA - there are no differences, but if the debt represents more than 25% of your aggregate debt they will probably reject unless you have a very high dividend.

Posted: **Tue Mar 18, 2008 12:37 pm**

I have been paying mine (81) seperately. I was told it could not go in IVA. My IVA was for 43000 and student loan (not included was 8000)

Posted: **Tue Mar 18, 2008 11:48 pm**

Inappropriate advice I am afraid.

Posted: **Wed Mar 19, 2008 12:26 am**

Is it too late to ask them to put it in? The 81 could then go into my IVA with my other updated money.

Posted: **Wed Mar 19, 2008 12:35 am**

I would think so - but you may want to discuss this directly with your IP to try and find out why they were left out in the first place.

Posted: **Wed Mar 19, 2008 7:41 am**

Just a quickie on this. We realised a few months after our IVA started that we had left 3 creditors out. A catalogue, a little loan of £23 a month and a student learning thingy. Will this look bad if and when we apply for BR? It wasn't done deliberately of with dodgy intentions, just simply forgot.