Debt awaiting claim

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skyline

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Post by skyline » Thu Mar 14, 2013 1:43 pm
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Hi All,

On my annual report there are 2 creditors listed as awaiting claim. This after being in an IVA for 15 months. Anyone know why this is? and what happens if they dont claim?.
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ClareSilver

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Post by ClareSilver » Thu Mar 14, 2013 1:45 pm
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If they don't claim, they don't receive a dividend. QUite simple really, however they are still bound by the terms of the proposal.
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skyline

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Post by skyline » Thu Mar 14, 2013 1:51 pm
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So if they dont get payed, what happens to the balance owed? is the money held to one side until they claim or what happens if they dont claim at all. Its been over a year now.

Thanks!
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artemischild

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Post by artemischild » Thu Mar 14, 2013 2:20 pm
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each of the cresditors will be contact when the IVA completes giving them a time to reply by, if they fail the rest is then divided up to the other creditors.

It can slow down the process of completion a little, i had 2 who never claimed so letter was sent twice to no avail.

I still have never understood why IP's or their staff dont start to contact them 6 months before planned IVA end date?!?!?

Arty
IVA completion and certificate received 08/10/2012!!!
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