www.iva.co.uk

i entered into an iva oct 02 and was paying 60 x £220 for the first 6 months i payed there after I became jobless and experienced personal problems and was living with friends all over the place and finally last year im getting on my feet but still no work and now with a baby. to be honest i blocled out this debt fot 5 years and oct this year will be 6 years will my debt be cleared? or how will i stand now?
i have not paid anything since i think may 03 was the last 220.00 i paid.

Hi
Your IP should have written to you advising that you IVA has failed. They will have also written to your creditors advising the same.

As you had only made limited payments in to the IVA there would not have been enough funds in the IVA pot to file for your bankruptcy.

Your debt is still there it just seems that creditors have not found you because you appear not to have a fixed address.

The chances are that your debt has been sold by the original lender to a debt recovery company and one day they will catch up.

There is a limitation on the time they can try to collect but I dont think you have reached this point yet.

Dave Beech

Very strange that your IP has not closed this case if nothing has been paid since May 03! I suggest that you check the insolvency register to see if the IVA is still in existence.

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

many thanks for your reply.

I have checked with the insolvency list on the net for my area and my name is not on there. should i contact the court to see if they have ny name down any where else? is there any other checks thats i can do to find out anything. and say my debts were solf off how long is it that they have to collect.
Many thanks for your advise

Hi and many thanks for your reply.

I have looked on the net for insolvency for my area and my name does not appear. should i contact the court to see if they have any details on me? or are there any more checks that i can do?
many thanks for your advice

HI
The Limitation Act 1980 sets out the rules on how long a creditor has to take action against you for a debt i.e. take you to court. The time limits are different, depending on the type of debt that you have. This factsheet outlines when you can use the Limitation Act and includes a standard letter you can adapt to send if your debt fits into the rules.
Unsecured credit debts
This would include credit cards, store cards, bank and building society personal loans, catalogues, finance company loans etc. You may have had a debt with an ordinary unsecured creditor that you have not heard about for a very long time. You may have moved address or thought the debt had been written off.
Out of the blue a letter arrives from the original creditor or a debt collection agency asking you to make a payment.
You can argue that the creditor is out of time or ¡§statute barred¡¨ from taking you to court for this debt:
if
„X The creditor has not already obtained a judgment against you
and
„X You, or any one else owing the money (on a debt in joint names) have not made a payment on the debt during the last six years
and
„X You have not written to the creditor admitting you owe the debt during the last six years.


Dave Beech

Tass
Check your name against all courts and all areas
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Hi
I also think that the six year limitation act only affects you if the creditors have not tried to contact you about the debt within the last six years.The fact that they did not contact you because they did not have your new address does not mean that the debt is no longer valid

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp