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We are three years in to an IVA but two parties have still not agreed to the IVA. What implications will this have at the end of the five year term of the IVA ?

Also, I may be moving abroad to work so will this have any implications to the IVA even if I continue to pay the monthly repayment amounts ?

Thanks

Hi there

I assume that you mean that two creditors have not submitted claims? Your IP ought to have given them a final date for proving, and if they have not submitted by that time then they ought to be left out of the process, leaving your other creditors to share what they might have enjoyed.

Working abroad is not a problem providing you continue to make your payments electronically and provide your IP with a forwarding address.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi both,

I dont understand this, how can 2 creditors not be involved here ?

Are you saying that creditors can exclude themselves from an IVA ?

If so, does this mean that these two debts are still owing at the conclusion of the IVA or are they unenforceable ?

Confused !

Sometimes creditors just don't submit claims - either because their administration is poor or they feel that it is not worth their while. Creditors can exclude themselves from receiving dividends if they wish to, but that does not mean that they are not bound by the terms of the IVA.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Beats me why a creditor would abstain from this. Appreciate the clarification.

Cheers