Confused over IVA

newlywed

HI guys, just a bit of advice needed please?

OH had a joint loan with his ex who then went into an IVA. After approx 15 months her name no longer appeared on the insolvency register so OH wrote to her IP to ask whether any monies were likely to come off their joint loan.

He confirmed they would, the first payment being after 2 years. At the point we assumed she had received/acquired some sort of lump sum to pay off the amount in full. She started splashing cash about buying computers, laptops, mobiles etc etc, according to the kids.

The 2 years to first payment off debts is now up..... the IP has been queried as no monies have come off and he has confirmed that nothing at all will come off the joint loan.

So.... why would a creditor included in an IVA not be receiving any monies at all?

Is our assumption that her IVA failed likely to be correct?

Or is there any other reason this may happen? We are really confused and OH just wants to know how much of the loan she's managed to dump on him (when she promised to pay it).

RAS

He needs to get his credit records, for a start.

newlywed

RAS wrote: »

He needs to get his credit records, for a start.

Last time he got them, this debt didn't even show on it

However, I will get him to send off for the £2 paper ones again. Should they show her details then??

RAS

How long ago was this account taken out and when did anyone last make a payment on it?

newlywed

RAS wrote: »

How long ago was this account taken out and when did anyone last make a payment on it?

About a sneaky month before she fell pregnant by someone else :rolleyes:

It was taken out about 5 years or so ago, but OH has been making monthly payments regularly, as they were threatening court action against OH whilst the ex claimed she was "sorting it" and told him not to pay anything towards it :mad:

So not statute barred unfortunately. And they have provided the CCA too (tried that one ).

RAS

Dod you check all three credit reference agencies?

newlywed

RAS wrote: »

Dod you check all three credit reference agencies?

I think last time OH just went for one of them. This time I'll make him apply to all.

I have down annualcreditreport, experian and equifax. Is that all or was there another one too (I usually do exp and equi)?

RAS

experien, equifax and callcredit, although the latter only cover 5% of the market.

Who told you the CCA was correct? A lot of the ones we see are just application forms.

newlywed

RAS wrote: »

Who told you the CCA was correct? A lot of the ones we see are just application forms.

Good point. It was signed by OH the ex and the bank, dated and stamped. I think it was the loan agreement....

Perhaps I ought to take another look to check if it really is the CCA or the application form? How do I know for sure, does it have to be titled Agreement under CCA or something?

(We were actually asking for it for another reason at the time... ).

RAS

Willpost up links to a couple of duff one and a couple of correct ones.

The fact that it mentions the Consumer Credit Act is irrelevent if it does not mention the prescribed terms.

newlywed

Thanks RAS. You're always helpful