I am Currently half way through an IVA . In the last year the four Loans that I owed money on have all gone bust , Do i still need to pay my IVA as All My emails state that they cannot recieve any payments , wondering where my money i pay each month is going
It will be going to your other creditors, if any, to increase the debt repaid to them, or to any debt collectors who purchase the debts from the old companies in due course. Depending on what actually happened to the old lenders, the money might be going to the Official Receiver in Bankruptcy. Check in with your IP and ask.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
