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IVA Question!!!

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Ha...thanks someone just pointed me in the right direction to this thread!!!!
I am in an IVA and have just received a letter from one of my debtors stating they have transferred my debt to a company called PCO Holdco??
Can this new company now pursue me for the debt I owed to the other company who are named on my IVA????
They would have a job on anyway but its worrying me slightly.
Many Thanks!!!!

Comments

  • FoggyBrain_2
    FoggyBrain_2 Posts: 1,121 Forumite
    HI there. No, the debt is included in your IVA so the new comapny can't touch you. Many of these companies buy "job lots" of toxic debt for peanuts and won't sometimes know you are in an IVA until they are told.
  • Thanks for reply.Was slightly concerned because on my IVA the debt is in one companies name but now it belongs to someone else who is not named on my IVA i thought they may be able to try to recover their debt???
  • Rmeek
    Rmeek Posts: 58 Forumite
    Part of the Furniture Combo Breaker
    Hi. As above they can not pursue you seperately. Two of our six debts on our IVA had been passed to debt collecting agencies by the time the vote went ahead and they voted in favour of the IVA anyway. Nothing to worry about and a common occurence as far as I can gather. Good luck! :)
  • darlyn
    darlyn Posts: 50 Forumite
    techno1029 wrote: »
    Ha...thanks someone just pointed me in the right direction to this thread!!!!
    I am in an IVA and have just received a letter from one of my debtors stating they have transferred my debt to a company called PCO Holdco??
    Can this new company now pursue me for the debt I owed to the other company who are named on my IVA????
    They would have a job on anyway but its worrying me slightly.
    Many Thanks!!!!

    As already pointed out, you have no worries at all with it - it is very common. It happened with 3 or 4 of mine.
    You may get a letter from them saying they own the debt, but thats it. Nobody can touch you for any of the debts in your IVA, so long as you keep it up.
    ;)
  • They have to let you know that they have bought the debt. It is called a notice of assignment. You need to inform your IvA company of this so they can amend their details and ensure they are sending docs and payments to the correct company. Most creditors will sell the debts onto IVA specialist debt collectors, this company is a common one. Nothing to worry about at all
  • Hi does anyone have any contact details for PCO Holdco Sarl? They have changed something on my credit report and i need to contact them and cant find any details anywhere. nightmare.
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