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

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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.


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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.
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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?
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