I've been in an IVA for 1 year. I have recently had a complaint upheld by three financial ombudsman service relating to unaffordable lending, which actually is the reason why I entered and IVA.
I am due a refund, a small one. Which obviously I would pay what's required into the IVA. But as part of the ruling they are required to remove the debt form my credit file which amounts to about 50% of my IVA.
What is going to happen?
Would my IVA would be invalid in anyway?
Also could IVA removed from my file as this I wouldn't of qualified for an IVA if I didn't have this debt. Which was unfairly given to me as they have ruled.
Also would my IVA term reduce? Payment reduce?
Any help would be appreciated
The IVA will remain on file and active unless the courts order otherwise.
Do keep your IP in the loop as he will have to stop paying dividends to these creditors and, maybe, get any paid thus far back.
Who is onlineUsers browsing this forum: No registered users and 39 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location