Is it legal for a company to sell debt after IVA completion?

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avril172
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by avril172 » Fri May 18, 2018 12:22 pm
Is it legal for a company to sell a debt several months after the completion certificate of an IVA has been issued and the same company having been included in the IVA and received all their dividend entitlement.By the way Foggy you gave us so much help several years ago and now we have completed the IVA.A big thank you.
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Foggy
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by Foggy » Fri May 18, 2018 12:43 pm
avril172 wrote:
Is it legal for a company to sell a debt several months after the completion certificate of an IVA has been issued and the same company having been included in the IVA and received all their dividend entitlement.By the way Foggy you gave us so much help several years ago and now we have completed the IVA.A big thank you.


Thank you for your kind words.

Because creditors tend to sell on debts as unexamined "lots", some debts previously included in debt solutions are often lumped in with a lot and the debt buyers take that risk. They cannot pursue the debt or ask for any more monies. Usually just telling them the debt was in an IVA will make them go away. They may require sight of the proposal and completion papers.
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