this may be long winded but please give me your advice .... i set up a iva in dec06 and at same time was trying to sell my house. as sale went thro so did iva so i was told iva would be squashed and creditors would start chasing me again. i have heard nothing from anyone since dec 06 iva or creditors. i have been on electral role since sale of house at my next 3 address but nobody has ever contacted me..... till today i had company telling me i owe £38000 on a loan off £20000 back in 2005 i have not got in touch with them as wont to wait till 6 years since iva was first set up and i havent paid any off my creditors for over 6 years already, a ccj was also lodged against me for £15000 on 17th of dec 06 and i only found this out when checking my credit report this year.
any advice would be appriciated and altho im in better financal position i dont want to start mucking up credit report so close to 6 years
thank you
I would get in touch with your IVA company and seek their support in this - your details will still be on their files so hopefully they will be able to resolve....if your creditors were not paid then you are liable for your debt still.
Last edited by luluj on Sun Oct 28, 2012 11:08 am, edited 1 time in total.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
no never recived anything he was upset that we sold but we were also splitting up so would never of worked for us,
also should i wait till 6 year point due to statue barred on unsecured parts thank you for reply
If your IVA has failed and has been closed, then you now find yourself in the same position as before you had an IVA in that there are debts you owe which I assume you are unable to repay? If this is the case, have you thought about whether you now want to try and start repaying them again, or whether bankruptcy proceedings may be a better option?
yes matrix i belive it applies as i havent admmited or been approched for anything for over 6 years and as the iva was 6 years ago i think them deats would apply to it
Hi! From the article I just read it doesn't sound like being statute barred applies to you because you haven't kept you creditors informed of your address, you have admitted the debts are yours because you set up an IVA to deal with them and six years won't have passed until December this years. In your case I would think using the limitations act akin to theft. Sorry but it does come across as you trying to avoid your responsibilities.
