Loan in IVA has been written off

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Post by Pigger479 » Mon Apr 01, 2019 5:33 pm
Hi ,

Received an email from one of my creditors stating that they have gone into administration and I am entitled to redress? They have adjusted the balance of my loan to zero and apparently will also be compensated? My full and final meeting is on 23rd April if successful what happens to this money thats been wiped out? Does it go to other creditors or if unclaimed back to me ? The letter says all of this is provisional so I’m guessing nothing has been finalised yet


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Post by Foggy » Mon Apr 01, 2019 5:36 pm
It will most probably be re-distributed between the rest of the creditors. If the IP sends it on to you that would be a bonus, but unlikely.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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