Forgotten IVA?

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Minky17

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Post by Minky17 » Wed Mar 20, 2019 1:38 pm
In 2005 I took out a joint IVA with my ex partner. We both had individual debts totalling approx £2,000 each and a joint consolidated debt at £19,500. A creditors meeting was held and everything was agreed and signed by the end of sept 2005. We split up around March 2006 and in the May my ex went bankrupt. In the September I moved in with my parents and I phoned the insolvency company to let them know my change of address. The person who I spoke to had no information about my IVA and when I gave them the name of the person I was dealing with they said he no longer worked there. I was told they would send a letter out to me to confirm change of details but that never arrived.
I had a mail redirection in place for 12 months from my old address and never received anything from either the creditors nor the IP. I lost contact with my ex (it wasn't a pleasant breakup) and I suppose carried on with life.
In 2007 I sent off for a credit report and everything was on there, the IVA, defaulted payments from creditors, all my addresses including my current one plus my electoral roll details which I kept updated.
14 years later I now have a clean credit rating, the IVA has come off along with all the defaulted payments and I have kept up with all my payments. I just happened to stumble across the insolvency register and typed my name in to see and I am still listed on there as having a current IVA! Not once have I been chased for payments or been told it's failed and looking back I think the payments were coming out of my ex's bank account.
The only paperwork I can find that I still have is the initial agreement where we had to list what we owed etc and expenditures at the time. Everything seemed to suddenly go quiet when my ex went bankrupt plus the fact they couldn't find my file on their system and I'm wondering if my IVA has been 'lost'?
Where do I stand now? The company that originally sent me the paperwork that I have went into liquidation in 2010 but the name on the insolvency register is still going albeit under a different name.
Will I be opening a huge can of worms if I ring them up to see if they can take it off the register or leave it be? Where would I stand with the creditors, will they be able to chase the whole debt?

Foggy

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Post by Foggy » Wed Mar 20, 2019 2:20 pm
If you are still on the Insolvency Register I am surprised the IVA isn't still showing at each of the three credit agencies ( have you checked them all ?) in the court information section of the report.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Minky17

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Post by Minky17 » Wed Mar 20, 2019 2:49 pm
All of them are clear, that's whats so confusing!

Minky17

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Post by Minky17 » Wed Mar 20, 2019 2:59 pm
Just double checked and they all say there are no ccj's, IVA's or bankruptcies on my report...

kallis3

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Post by kallis3 » Wed Mar 20, 2019 3:07 pm
You can always raise a report with the Insolvency Service and ask it be removed.
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

Minky17

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Post by Minky17 » Wed Mar 20, 2019 3:28 pm
That's what I'm unsure of, if I ring them up will they start up the IVA again? It's been 14 years and they've never chased me for any payments nor have any creditors.

Foggy

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Post by Foggy » Wed Mar 20, 2019 4:13 pm
Wed Mar 20, 2019 3:28 pmMinky17 wrote:
That's what I'm unsure of, if I ring them up will they start up the IVA again? It's been 14 years and they've never chased me for any payments nor have any creditors.
The debts will be statute barred by now, so collection cannot be enforced. However, statute barring does not mean the debts no longer exist and the apparent presence of an IVA might mean that they have been acknowledged and not barred after all ---- you would need advice from a solicitor experienced in insolvency matters to be sure of the position. Very muddy waters. Stirring them might find the IVA re-reported on credit files, rather than being removed from the Insolvency Register if the IVA was never properly terminated.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Minky17

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Joined: Wed Mar 20, 2019 12:55 pm

Post by Minky17 » Wed Mar 20, 2019 4:34 pm
That's what I was afraid of, I always assumed when my ex went bankrupt they wrote the joint debt off as I never heard from them again. I haven't had any issues with getting credit since and I have luckily been in the position since leaving my ex to regain control of my finances. I just don't want to suddenly have £20k debt forced onto my husband and family from what was essentially my ex's who took the easy route out and left me with the burden of a big debt. It just baffles me how the IVA just disappeared into thin air! I will definitely seek some legal advice from a solicitor, like you said, very muddy waters indeed!

Minky17

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Post by Minky17 » Wed Mar 20, 2019 6:01 pm
Didn't realise Noddle was a credit agency.. the IVA is on there still but not on Experian or Equifax.

Foggy

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Post by Foggy » Wed Mar 20, 2019 6:42 pm
Wed Mar 20, 2019 6:01 pmMinky17 wrote:
Didn't realise Noddle was a credit agency.. the IVA is on there still but not on Experian or Equifax.
Noddle is fed by a TransUnion Group company --- CallCredit, which is the actual CRA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Minky17

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Post by Minky17 » Wed Mar 20, 2019 9:49 pm
If the IP that was appointed to me at the beginning of the IVA never had any contact with me, where do I stand on that account? I've read up that they are supposed to oversee the IVA and stay in contact in regards to annual reviews etc but the IP I was appointed resigned from the company a year after my IVA was signed and has since moved around as director to a number of different companies, not all insolvency firms and has now set up her own business. Is there a legal loophole where she has failed to regulate my files at all?

Foggy

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Post by Foggy » Thu Mar 21, 2019 7:46 am
If an IP resigns from a company the case is either transferred to another IP in that firm, sold on to another firm or travels with the leaving IP, depending on the circumstances. Although the IP is appointed as supervisor the ultimate responsibility with keeping the IVA on track rests with the debtor ---- the actual agreement is between the creditors and the debtor, the IP is there to supervise.

We, as debtors, have very little protection in all of this and very little recourse. If the supervisor has failed in her duties we can only complain to their regulatory body where they might bet a slap on the wrist or a fine --- the regulators will not actually intervene.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Minky17

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Joined: Wed Mar 20, 2019 12:55 pm

Post by Minky17 » Thu Mar 21, 2019 9:47 am
Do you think that in this very rare circumstance, that my IVA is somehow 'missing'? The man that was dealing with it left the company and that's when they couldn't find my record anywhere. The company that dealt with it was Accuma Insolvency Practitioners. I'm presuming now it would be classed as a failed IVA. I just don't know where to start to clear this up. If I contact the insolvency register they will want a certificate but to get that I have no idea who I would contact now Accuma has been dissolved.

Minky17

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Joined: Wed Mar 20, 2019 12:55 pm

Post by Minky17 » Thu Mar 21, 2019 9:53 am
To be honest, the IVA is only on one of my credit reports and I have now built up a very good credit score over the years, I've been accepted for loans which were completed with no missed payments and credit cards which again I've always paid on time, plus utility payments and rent always paid on time so my credit report has been full of green ticks for many years. The creditors that I defaulted on when I took the IVA out have all gone from my reports, but my addresses link back to the address I took my IVA out on so I am very much traceable.
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