www.iva.co.uk

My creditor (Lombard Tricity) has accepted Proof of Debt folllowing my IVA Hearing in 2009. They have only recently lodged their claim to collect monies (due to commence 8.11.11).

In the meatime they are pursuing a co-guarantor to the original loan agreement.

Can they do this as it seems very unfair as they will be repaid in full from the IVA funds.

They have every right to. A bit unfair maybe but the original loan/credit was founded on their ability to pursue a guarantor if you defaulted.

Unfortunately this will happen - until the IVA is completed then you are both liable for the debt.

I assume that if there is an overpayment at all, the difference will be refunded.