iva mess

ethal05

hi,like many others i wish id never doen the iva. the iva provider told me i needed a new bank account, but everyone else i delt with could not stop providing me with the goods and services. this however was not true!!!. my business had a theift thats when my problems started. after several months of wriggling finialy i was told all my insurance policys were void as they had not be informed although the iva provider told me i should only tell the bank. this caused my business to fail as i could not successfully opperate without this stock. this ment not only have i not made a payment into the iva for over a year as i didnt have an income. as i felt that i was misinformed about the iva from the provider and also the way the insurance company cancled and back dated my policys to avoid payment, i contacted the financial ombudsman. they reasently made tthe insurance company pay the claim. i now have no bussiness but owe lots of people money that are not included in the iva. so to try to stop further ccjs and personal threats to my safty i used the money from the claim to repay some of these people. now the iva provider wants the mony from the claim which i havent got as it went to pay back people who were affected by the lack of stock. can they do this as it was not a windfall and also since i entered into the iva i had so many thefts after i had no insurance that i know were people included in the iva but there was no proff. the iva was the worst thing i ever did, i urge others to go for bankrupsy not an iva.

MrOrchard

It was the best thing I ever did. Your mileage may vary.

ethal05

did your iva provider tell you to inform insurance company? as i have now discovered if you dont they can try to claim you did not inform them of a material fact this could even invaidate you car insurance if you have an accident.

MrOrchard

Common sense dictates that you tell everyone you have a financial relationship with, surely? Did your IP specifically tell you to "only tell the bank" or "make sure you tell the bank"?

I literally have no idea why your insurance wouldn't pay out if you'd continued to pay the premiums though. I claimed on my home and car insurance during the IVA.

I suspect this is not your IP's fault, as they say. Do your own research, don't rely on others.

ethal05

he told me not to tell anyone as it was none of there business and that when i entred into the iva anyone suplying me with goods and services could not stop suplyinging me using the iva as a reason, which is exactly what happened. the insurance was fully paid up but the company still cancled the policys and even backdated the cancelation to inseption of the policy which was before the ccjs and iva and they keep the payment for the policy they didnt honnor.