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
Okay then if it is my only option to go through the IVA, do you think I should claim only £800 or go to court to ask for 3x deposit = £3,200+ ?
Would that help me retrieve a bigger percentage of my money?
I'm afraid the choice is yours - you need to seek more legal advice.
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
I don't think any of us can help as most of us are people who have been through an IVA and have no experience of this scenario.
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
Thu Jan 30, 2020 3:12 pmdan201 wrote:
I understand that I have the choice, what I am wondering is if I claim more money will I get a higher percentage of the monthly repayment?
The dividend to creditors is calculated as 'pence in the pound', so, if the calculated dividend is estimated at, say, 30 pence in the pound, over the course of the IVA you could get £240 of an £800 debt. On a debt of £2400 you could get £720. This could go up or down, depending on events during the life of the arrangement.
You could lodge the claim for £2400 and the IP only agree that the £800 is admissible.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I have tried to call the IP to get more details but couldn't get any information since I am not a creditor thus considered outside of the case...
I have another question, does the IVA works retroactively (ie will I get money from when the IVA started), or the longer i wait the more money I loose?
You will have a dividend the same as the other creditors which will make no difference to the amount you will get.
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
As has been pointed out by Lisa, you are still bound by the IVA even though the debt was before the IVA. Which is his IP company? You may want to drop an email directly to the IP.
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
I have indeed tried to call them to have more details but they wouldn't tell me anything about the case since I am not registered as a creditor in that case.
Fri Jan 31, 2020 4:23 pmdan201 wrote:
I have indeed tried to call them to have more details but they wouldn't tell me anything about the case since I am not registered as a creditor in that case.
Did you speak to the IP, or to a call handler ? I would write, by recorded delivery, direct to the IP, giving 14 days for a substantive response. If they fail to respond complain to their regulatory body.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Not sure if it would change anything as they were very reluctant to give me any information / help, and the number I called was straight to the call centre, I don't see any other way to reach his IP...
Another option I am considering is, I can wait around a bit to go to court and get a CCJ, that is valid for 6 years so if I wait it would still be in effect after the IVA ends, so I could fully recover my money. What do you think about this option?
I'm not sure if a CCJ would be valid now as the IVA is in place but I could be wrong.
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
