not all creditors have claimed there money

[anthony.ln]

I recieved my first annual statement from my iva provider and it shows not all creditors have claimed there money, and if they do not claim it be a set date they will lose the right to this money. Is this correct ? if so will get a reduction on my monthly premium. I am not happy with my iva company as I feel they are doing me a dis-service. please advise me.

[kallis3]

Hi, and welcome to the forum.

Don't worry, it sometimes takes creditors a while to put a claim in.

However, if they don't claim then they do forfeit the money and it means that the other creditors will get a higher dividend. Your payments won't be reduced.

What company are you with and why are you not happy with them?

[animaleyes76]

I'm 3.5 years into mine and something like 9 of my creditors due claims of about £22k still haven't claimed.

I'm sure they will in the next year.

[MelanieGiles]

IPs should chase creditor claims at an early stage to ensure that dividends can be paid on a timely basis.

Under the terms of the IVA protocol, claims have to be submitted within the first four months or else they waive their right to dividend.