Final Payment

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Notlongnow
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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.
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kallis3
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by kallis3 » Sat Jan 19, 2019 9:34 am
Some of them do. Nothing to worry about, they are bound by your IVA.
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Foggy
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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.
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MerlinL14
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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.
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luluj
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by luluj » Sat Jan 19, 2019 9:55 pm
Well done for reaching the end of your iva.
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