My partner and I have been in an IVA for 12 months now with Kingsgate we have had our annual review and the payments have stayed the same, we are waiting for a statement of what was paid to the creditors but have not had anything yet and I am starting to get worried as I get at least 1 phonecall a week from other debt companys saying kingsgate are known for not paying creditors! am I right to be worried?
Hi - I haven't heard of Kingsgate but try a search to see if anyone has posted about them on the forum. As long as you are making your payments you are fulfilling your obligations to your creditors. The rest is for Kingsgate and the creditors to deal with among themselves. I have never received a statement of payments as such but did get a copy of my annual report. Phone your case team and ask for the info you want.
This should have been furnsished with a copy of their annual report which they are obliged to issue to creditors within two months from the anniversary of your arrangement each year. If you need one urgently they should be able to e-mail this to you with little bother.
It is highly inappropriate for your creditors to be contacting you stating that your IP firm are unreliable. If this is the case, then they should be taking it up directly with the firm concerned.
hi, it is possible that the other debt companies that are contacting you are trying to scare you in to making a different decision. Contact your IP and ask for it, or where it is.
Kingsgate have been mentioned on here before. They should be sending you an annual report as Mel says.
I am sure that they have been paying your creditors.
Could it be one of our 'missold IVA/bankruptcy assist' firms who are trying this tactic?
A bit underhand if it is!
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
Please feel free to contact the office on the usual free phone number if you have any concerns. It sounds like 'bankruptcy assist' companies who are contacting you as Kallis suggests and we would be interested to know who is making these unfounded allegations.
If it is more than 2 months from the date of the anniversary of the approval of your Arrangement then we will have sent out a copy of the annual report to you, if you have not received it please let us know and we will be more than happy to send another copy.
The annual report includes a section which details what has been paid to creditors in the form of dividends.
