One creditor not come forward

shelene

Hi i am currently in yr 2 of my IVA and was informed by IVA annual review that one creditor has not yet come forward. - i am presuming this is CTC as they have stopped my payments to recover the amount of overpayment. So initially i estimated that in total i owed about £25,000, but only £21, 000 worth of creditors are claiming.

I am paying at present £216 per mth for 1st 3 yrs then 316 per mth for 4th and 5th yr.

Im just wondering if my term can be reduced, when my debt is not initially what i thought?

A condition that my paymets cannot decrease for the 1st 2 yrs is set in my IVA. I have sent an email to IVA (debt free direct) to ask who the outstanding creditor is about a mth ago, and still no reply.

Is it worth persueing?

fiveyearplan

Sorry Shelene, I don't really know anything about IVA's. Hopefully someone will come along soon.

shelene

well i rung my IVA people and apparently my term will not decrease nor my payments even though there is a difference of £4000!

This is apparently due to me totally repaying £16k of my debts rather than the full amount. Well was worth the ask, but dissapointed with the outcom:(