www.iva.co.uk

Hello,
I noticed on my annual review paperwork that's several of our creditors have not yet put in their claim form, we're around a year and a half through and most creditors haven't done it. It does say on the letter that creditors will still be able to get contributions if they fill in the form, but they cannot disturb the contributions to date. What will happen to those contributions if none of these companies respond by the end of the IVA? Are we still covered if they don't claim their share? It's likely we will complete with 100p to the £, so seems crazy to me that they're not coming after their money with one simple form!? Only around £2000 of the total £6700 debt has been claimed, that's a lot of money to be waiting around unclaimed?!
Thanks in advance!

Surprisingly some creditors simply do not claim. I guess economics of processing small payments over 5 years make it less attractive. Whether they claim or not, they are still bound by the IVA.

Great, thanks for the quick reply foggy! That's a weight off!
Will the IVA company just keep that money in the end of it's never claimed?
Thanks again

Tue Jan 21, 2020 9:01 pmRlh1994 wrote:

Great, thanks for the quick reply foggy! That's a weight off!
Will the IVA company just keep that money in the end of it's never claimed?
Thanks again

I believe they will either re-distribute between claiming creditors or return it to you.