I have been in an IVA for nearly 2 years now and all is going well. I received an email today from one of my creditors saying that they have fully completed their liquidation and my debt with them will no longer exist. They said to not make any further payments.
I want to know that if they are not wanting further payments will my IVA be adjusted to suit this? As they was a large part of my debt £9000 of £30000 in the IVA?
It will be a standard letter and your payments will continue as normal and they will get their dividend at the end. Send this letter to your IP for them to deal with.
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
As Kallis says, send a copy of the letter to your IP. He / she will liase with the creditor and adjust dividends accordingly --- basically the other creditors will be getting more going forward.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
