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Posted: Sat May 03, 2008 1:39 pm
by mustang
Hi,
All the paperwork for my IVA is collected,and as I'm self-employed I have to meet with my IP,Melanie,which is booked for Thursday.
This morning I recieved a County Court claim from one of my creditors.
Does anyone know how this will affect my IVA proposal?
Thanks in advance for any replies,
Steve
Posted: Sat May 03, 2008 1:48 pm
by chris.g
Hiya Steve, I shouldn't see it affecting it at all, be sure to let Melanie know about it though. Your IVA should, hopefully, be set up and running by the time the CCJ hearing,
xx
Posted: Sat May 03, 2008 7:05 pm
by go_4_broke
Hi Steve
I would suggest you file the 'Acknowledgement of Service' saying you intend to defend the claim.
If you do nothing you run the risk of getting a 'Judgement in Default' which although it won't have any effect on the IVA is another black mark on your credit record.
If you get to the point of having to file a defence and the IVA is not finalised file try 'The debt is subject to inclusion in an Individual Voluntary Arrangement' which should be enough to pass muster and go through to the next stage.
The point is to keep the thing rolling along until the IVA is finalised, which will then stop any further proceedings, and prevent a CCJ ever getting on your credit record.
Best Regards, Simon
Posted: Sat May 03, 2008 7:45 pm
by Soulgrowth
I would completely agree with Simon ... I ommitted to taking this action when I had such a court notification last year and it cost me £12,000 which went to one creditor and affected my return to all rather then being shared amongst them all.
Debbie
Posted: Sat May 03, 2008 8:14 pm
by go_4_broke
Debbie - Ouch !
Like a lot of debt-related legislation CCJ's and the Court process are a little quaint and have their own peculiar logic which can take a bit of getting used to.
It definitely pays to keep on top of them though!
Best Regards, Simon
Posted: Mon May 05, 2008 2:18 pm
by MelanieGiles
Good advice there from Simon - especially to return the documents by saying that you are intending to propose an IVA to creditors - although the creditor already knows this because we have written to them!