do most creditors sell on the debts

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kallis3

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Post by kallis3 » Sat Apr 03, 2010 9:44 pm
There are no problems when a debt is sold on. Whoever buys it is bound by the IVA.

No creditor can opt out. It is legally binding on both sides.
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sunkendrailer

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Post by sunkendrailer » Sat Apr 03, 2010 9:50 pm
kallis3 wrote:

There are no problems when a debt is sold on. Whoever buys it is bound by the IVA.

No creditor can opt out. It is legally binding on both sides.
So is it likely that letters could start coming again? And if they do, would I just pass them on to my IP?
Now debt free after F&F in July 2012.
 
 

MRBLUESKY

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Post by MRBLUESKY » Sat Apr 03, 2010 9:56 pm
you should be informed that the debt has been passed on, thats it ,no need to pass anything onto your ip, they will have been informed ,it will show up on your yearly statements from your ip.
Last edited by MRBLUESKY on Sat Apr 03, 2010 9:59 pm, edited 1 time in total.
 
 

kallis3

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Post by kallis3 » Sat Apr 03, 2010 10:03 pm
You won't get any letters at all, other than ones informing you that your debt has been sold on. You can keep them or bin them.

You should get a statement once a year from your creditors which is nothing to worry about, they are obliged to send you one by law.
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
 
 

PELDER

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Post by PELDER » Sun Apr 04, 2010 5:38 pm
To Jan & Ronald in particular - Thanks for clearing the murky waters of this topic with your answers, I'm a lot clearer now and I doff my hat off to you pair of stalwart stars of this forum.
 
 

kallis3

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Post by kallis3 » Sun Apr 04, 2010 5:51 pm
Hope we've sorted you out sunkendrailer.
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
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