Does any one know how long a creditor has after the creditors meeting to state their full claimed amount?
I have two potential Personal guarantees that may or may not bee called as there is equipment being sold by them to cover their costs. They are listed in my IVA in case their costs are not covered in full. Do they have a time limit to make their minds up?
No idea how long it takes - I'm three and a bit years in and a couple of my creditors still haven't claimed.
Speak to your IP and see what their take is on things.
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
Thanks for the response, I have spoken to them and they just seem as uncertain as me? Potentially over five years I could pay in a lot more than I need to as my IVA is based on repaying 100% of the debt over five years?
kallis3 wrote:
No idea how long it takes - I'm three and a bit years in and a couple of my creditors still haven't claimed.
Speak to your IP and see what their take is on things.
You'll never pay back more than 100% plus fees. If there is anything extra then it would be refunded to you.
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
Thanks for the reply, On paper without the two PG's thenI would finish paying all and the fees in Month 32 with a repayment set at £975 / month it would be nice not to continue paying right up to month 60.
kallis3 wrote:
You'll never pay back more than 100% plus fees. If there is anything extra then it would be refunded to you.
Hi
I don't think your IVA will be concluded until your IP has included the two PGs or they have confirmed that there is no outstanding liability.
Regards
Hi Andy,
Thanks for the response very much appreciated.
So what you are believe in effect if the PG's decide to do nothing and not respond my IVA could remain open indefinitely? and I could be forced to pay the full 60 months even though it would amount to £20K more than the rest of the debt and the fees?
Andy Davie wrote:
Hi
I don't think your IVA will be concluded until your IP has included the two PGs or they have confirmed that there is no outstanding liability.
Regards
Hi, Good question, I am still very early in the process but I assume that if I asked I would be told, and would have thought as part of a review it is a two way process?
Ivaniva wrote:
How do you find out which creditors have and haven't claimed ?
I can't find any mention of this in my reviews?
In my annual review there is a list of creditors and by each one is the amount that has been paid out - those that haven't claimed are listed but show nothing next to the name.
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
kallis3 wrote:
In my annual review there is a list of creditors and by each one is the amount that has been paid out - those that haven't claimed are listed but show nothing next to the name.
