www.iva.co.uk

Just received my first 'annual report to creditors' and I was amazed at some of the information contained in the 'supervisors listing of creditors';
Lloyds TSB and Mint are the only creditors who have supplied supported documentation, HFC, MBNA and Creation Finance have sold their debts on to Max Recovery (Eversheds), Egg and Capital 1 still have claims outstanding.
Egg were one of the most aggressive companies chasing repayments pre IVA yet they haven't even taken the time to register a claim.
My IP has stipulated on the report that if supported claims are not received by 31st May these companies 'may be excluded from the arrangement', I assume if this happens all the other creditors will receive a larger pence/£ return[?][?][?]
Perhaps this information will be helpful to other forum members [:D][:D][:D]

Your assumption is correct - but maybe your IP just needs to work a little harder.

Sorry Mel, I don't understand what you mean that my 'IP just needs to work a little harder', can you explain please, is there something else he should be doing[?][?]

He should be getting those claims in and getting the creditors paid.

If a creditor does not submit a claim - does that mean that they then cannot come after you for the money you owe?

I must be having a particularly 'slow' day [xx(][xx(]
If my IP is presenting an accurate, well prepared annual report to all creditors, on time, and informing the ones who have not presented claims that they may be excluded unless they provide the information within a specific time, how is he not doing his job correctly [?][?]
I thought he was doing a professional job until I read Mel's reply, I still don't understand what else he should be doing, can someone please enlighten me. [?][?][?]

Your IP is working for both parties - he has to ensure you pay as much back as possible to the creditors concerned, but at the same time ensure you can still live on your income and expenditure.

Your IP's primary duty of care is to the creditors who have appointed him to collect your monies and pay their dividends. Often this does require some proactivity on the part of the IP to chase and agree claims, so that those creditors can all be paid. I'm not suggesting that he is doing a bad job, merely that sometimes you need to work a little harder to get there.