I asked my IP to send me a Statement of Affairs which, to my suprise, he did quite quickly. Unfortunately I didn't really understand it so asked him to clarify what each column meant. He has written back saying that:
a. Northern Rock is acknowledged as being one of my creditors & he has me down as owing £170,000 to them. Which I can assure you I don't because my property was sold in January 2007 & my IVA started in March 2007 - WEIRD!
b. 2 of my creditors have not yet submitted their proof of debt forms (2 years on) and their amounts remain outstanding, therefore they have not accepted claims in my Arrangement. What does this mean? I didn't know that their were claims were outstanding & what happens if they reject my IVA.
Because of Northern Rock being included my IP says that my total debt stands at £197,235.16.
I'm really upset & disappointed at his dealings with my affairs & it scares me to think that I put this company in charge of my financial affairs.
Can anyone help?
p.s. I'm with Debt Lifeboat! Lifeboat!!! Sinking ship more like.
Sorry to rant on, but I'm a bit shocked to say the least.
I think you need to give them a ring to ask them to explain where they are getting their figures from. Do you actually owe NR anything at all?
As to the claims, sometimes claims are either late coming in, or don't come in at all. If that is the case then the other creditors get more money.
They cannot reject your IVA as everyone is bound by it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Phew, thanks Kallis. Nope, don't owe anything to NR. The flat was sold & everything was paid back. I made a grand total of £5.00 from the sale of it after everyone was paid. (Estate Agent, Solicitor etc....)
I treated myself to a fish & chip supper that night.
You definitely need to speak to your IP then, as something is not quite right somewhere!
As NR were paid off, they are no part of your IVA and you need to find out where they have these figures from.
Let us know what happens - it's very intriguing!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
This does seem odd. I suggest that you give your IP a call and express concerns about the information his office is sending out. As Debt Lifeboat are a www.iva.com approved firm, I am sure they ought to be able to reassure you quickly about the issues you feel are not correct.
Demand to speak to Philip Allen (your IP) and ask him to explain these ridiculous figures.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
