www.iva.co.uk

what happens it the company that is handling my iva goes bust after i have paid all i should pay but they dont forward it on to my creditors

Hi Frank, I think this requires an expert reply to ensure it's concise but I feel personally it would all be dealt with and your money would be safe for your creditors.

Your business would move over to another company and a change of IP for you.

All their accounts and books would be taken over by another company who should then deal with the conclusion of the IVA.

Hi Frank - hopefully a professional will be along but totally agree with the others. Have you received any info from your current firm?

Agree with Lisa on this one - it has happened in the past twelve months where Cleardebt took over another company. You just carry on paying your IVA as normal and you will eventually receive correspondence from your new firm.

IP's and IVA firms are very heavily regulated. In the unlikely event that one goes to the wall, all client money is safe.

Regards.

Just to echo what has been said, in the event of an IVA provider going bust, all cases would be assigned to a different company / IP and the IVA proceeds as normal.

Thanks

Unfortunately it happens, but Mike and the others are quite right. The IP supervising your case and the letterhead may change, but you don't need to worry about your terms or payments changing.

All funds held by an IP are held in a client account which is held on trust. This means that it is held outside of the normal company money and can not be used to pay any debts of the company, if in the unlikley event the funds have been used by the IP for non IVA purposes then this is covered by the "bond" which each and every IVA has. Your money is safe and will be used to pay your debts,as above if the specific company goes then your case will be transferred to another IP who will progress as required.