Final Payment

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1


Posts: 2
Joined: Fri Jan 18, 2019 10:53 pm

Post by Notlongnow » Fri Jan 18, 2019 11:04 pm
Hi All,

I have just made my final payment into my IVA and just waiting on the result from my final revie. I have just received a letter from another debt recovery company stating they have bought the debt from one of the original creditors and will be dealing directly with my IP.

The question I have is why would they buy this debt so close to the end of the plan?

Thanks in advance.


User avatar
Forum Expert
Posts: 74600
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Sat Jan 19, 2019 9:34 am
Some of them do. Nothing to worry about, they are bound by your IVA.
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.


User avatar
Forum Expert
Posts: 28939
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sat Jan 19, 2019 10:00 am
It is common practice for debts to be sold all the time. They are usually sold off as "auction style lots" --- bundles of debts of all types and status and the buyer takes the risk that some are in IVA's.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014


User avatar
Posts: 1626
Joined: Sun Oct 30, 2011 2:44 pm

Post by MerlinL14 » Sat Jan 19, 2019 1:52 pm
Just bad timing on the part of the buying recovery company really. Nothing for you to worry about as the original debt is covered under the IVA no matter who eventually receives the dividend.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues


User avatar
Forum Expert
Posts: 10509
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Sat Jan 19, 2019 9:55 pm
Well done for reaching the end of your iva.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”