Lump sum IVA - creditor not submitting claim

tasha999

I've been scouring these boards for advice with a situation similar,are to my own but can't find anything!

My lump sum IVA was agreed in October, a few of my creditors did not vote, but as the ones who did all accepted it was agreed.

Since this time the remaining creditors have all submitted claims to my IP, except one.

In the arrangement they were given 4 months to submit their claims. This time will be over in a few weeks.

We have spoken to them, as has my IP. They seem to be stalling, I see no reason why they wouldn't just put their claim in! They were sent the proposal prior to the meeting, didn't appeal during the 28 days after the meeting so what do they have to gain by stalling?

I just want this sorted now! Hopefully someone will have experience or knowledge of this. Thanks in advance for any answers

longtermplanner

You have stopped paying them anything I assume?

In which case, just chill, your IVA proposal has been accepted and is binding on all your creditors. No point in worrying about this.

RuthnJasper

Thanks for the question and answer on this; I've just finished my IVA (hurrah!) and I have a not dissimilar situation. All of my creditors but one (I had five in total) put in claims to my IP, but the fifth hasn't made any contact in over six years.

Money was set aside for this creditor throughout the duration of the IVA - I'm guessing this amount will simply be divvied up amongst the remaining four...?

Best wishes Tasha and ltp. x

milliemonster

Yes that's what will happen, your ip will give them a deadline to submit a claim and if they don't then the funds that were allocated to them from your full and final will just be distributed fairly amongst your remaining creditors

tasha999

Thanks all for the replies.

My main worry was if they were able to come back to us, the creditor that hasn't submitted a claim is the biggest and worth a third of our debt.

Can't help but worry I guess! After over 7 years worrying about everything I just want a completion to it all.

RuthnJasper

Thanks for the confirmation MillieM. Sorry to hijack your thread Tasha. xx

milliemonster

dont worry, you are covered by your iva so if they dont submit their claim in time, then its their loss, they will not be able to come back to you for anything.

tasha999

They have finally submitted their claim, after we rang them. So it should all be paid and completed soon