i have just completed my iva on jan 1st and today recieved a letter from my supervisor saying one of my creditors has not made a formal claim. what will happen to their share of the money
If one of your creditors hasn't claimed then that money will be spread amongst the other creditors so they will get a little more.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It does depend upon the terms of your particular IVA. Sometimes the monies that are due to that creditor are returned to you. If this is the case, put them in a separate bank account to pay over in the event that they ever do pop up and make a claim against you.
