Hi its Monica here.I am in my third year of my IVA and ihave just received mt annual report.It states that 3 of my creditors on the statement of affairs have not made a formal claim.how does this affect me when myIVA finishes? will i still owe them? Also my husband has no involvement in my IVA but is due to be made redundant.Do i have to inform my IP as it will not affect my payments? Thank you
I'm no expert but I think it just means 3 of your creditors haven't formally put their hand in the pot yet but as far as I know it's nothing for you to worry about - their loss if they don't claim!
However sure an expert will be along shortly to say for sure )
Not sure re hubby's redundancy but if at all in any doubt give your IP a quick ring and they will tell you wether its information they need or not )
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
Hi Monica and welcome from me too.
If somne creditors have not claimed it is correct that they are bound by the IVA. Your IP will try and get claims but otherwise they receive nothing and your other creditors get more. The creditors who do not claim cannot pursue you either outside the IVA or after it is completed.
Your husband's redundancy is something to discuss with your IP as it could impact on your ability to pay if not just now but at a later stage. Depending on how much he receives and your combined income and expenditure it may be an option for him to offer to settle your IVA and you could both then start afresh.
Three years sounds an awfully long time for your IP to still be dealing with outstanding creditor claims. A line should have been drawn under this long ago - although it is likely to have little effect on you personally.
thanks for all your replies. Re:michael Peoples, my husband will be using his redundancy to live on,as he is unlikely to get another job because of his age,plus job situation in our area. His redundancy will have no affect on my payments at all. I will still be able to manage on my income.
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