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Hi there, I am currently in an IVA with Debt Matters. However, I forgot about one of my creditors so they were not included in it. Now I keep getting letters & phone calls from them, which I pass on to debt matters. They keep saying that they are contacting them but the creditors seem to be ignoring everything and keep calling me etc. It is only for £700, and my IVA is £35,000. Can they not be added to the IVA? Or will I need to pay them the full amount. Thanyou, Chris.

Hello Chris

It is likely that this debt can be added to your IVA by your IP. Contact your IP ASAP and explain the situation. You may have to make up a few months payments at the end of the IVA to ensure your original pence in the £ dividend is still met to your other creditors but because the new debt is so small this is probably unlikely.


Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Hi Chris

This debt can certainly be added to your IVA with no problem. The rules say that once the IVA has been accepted, an additional creditor can be added without the need for a variation meeting as long as the dividend paid to all creditors is not reduced by more than 10%.

Adding £700 to a £35,000 debt will have next to no effect on the dividend paid so there will be no problem. Debt Matters just need to get things sorted for you. I would keep on at them

James Falla

Expert in IVA, Bankruptcy and informal Debt Management solutions for over 10 years.

For more information visit www.jamesfalla.com and visit my blog at: http://jamesfalla.blogs.iva.co.uk

Excellent, thanyou very much.

Its a weight off my mind (again). [:)]

I wish I found this forum before!

Chris [:D][:D]