Forgot to add a creditor to the IVA list. They are asking for payment now.

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scott115

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Post by scott115 » Fri Feb 16, 2018 10:03 am
I’m in an iva since found out about a creditor I didn’t add to this . Were do I stand? Do I need to pay this debt whilst in my Iva ?? They are asking for payment.

Foggy

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Post by Foggy » Fri Feb 16, 2018 10:14 am
All will depend on the amounts involved, how long the iva has been running and exactly why they were overlooked. If it is a small amount and will not overly reduce the dividend the creditor might be able to be added. Or, again, if it is a small amount, you might be able to agree a payment break on the IVA payments to clear the missed debt. These payments will be added back on at the end of the term. If it is a large amount or you are discovered paying a creditor outside of the IVA without prior agreement it could lead to failure. You need to speak with your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/

Lisa Thomas

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Post by Lisa Thomas » Fri Feb 16, 2018 11:40 am
How much is it and what % of total debts is it?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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