Default Notice question

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wakeywakey
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by wakeywakey » Wed Jul 26, 2017 11:51 am
Hi Guys,

I have had my IVA accepted with some modifications which were acceptable so all good so far.
I have just received my first default notice from Cap1
In the notice they threaten court action with CCJ then underneath this part in smaller writing they state "The company will not take you to court to get a judgement against you for the amount you owe under this agreement whilst the IVA is in place"

This seems to go with what everyone says, that they can't take any action whilst in an IVA, however, my concern is the wording. Do they mean they can once the IVA is finished? (But I thought once finished they couldn't take action as there is no debt)

I suppose they could mean if the IVA fails they could then take action but it's not very clear.
Any ideas?
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Foggy
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by Foggy » Wed Jul 26, 2017 11:54 am
They mean if the IVA fails -- if it concludes as planned the debt will be written off and cannot be pursued.
wakeywakey
Posts: 17
by wakeywakey » Wed Jul 26, 2017 12:54 pm
OK Thank You
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kallis3
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by kallis3 » Wed Jul 26, 2017 1:04 pm
Agree with Foggy - as long as you finish your IVA then you will be fine. Don't panic!
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