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Posted: Mon Sep 26, 2011 9:28 am
by Charles.pp
i am in an iva where i have sold a business with enough equity to pay off creditors 100% all creditors have been issued with a time limit to claim which pasted over a month ago. Two creditors have not replied which will leave a surplus of funds. Do they have a legal right to still claim after the time limit
Posted: Mon Sep 26, 2011 12:55 pm
by Shining
Hi Charles and welcome to the forum. I'll bump this back up for one of the professionals to answer. I would think there is a time limit but what it is I wouldn't have an idea. x
Well done on being able to repay creditors 100% x
Posted: Mon Sep 26, 2011 1:37 pm
by Adam Davies
Hi
No, if they were included in the original proposal and your IP has concluded your IVA they can no longer claim
Regards
Posted: Mon Sep 26, 2011 6:01 pm
by luluj
If you are this position and claims have not been made, all creditors that have claimed have received 100% back and all IP fees are paid in full the surplus money should I believe be returned to you (unless statutory interest is charged). I would speak with your IP to confirm specifically to your circumstances to be on the safe side.