Iva - statute barred debt???

Zealous3g

Hello Everyone

I entered into an IVA in 2006. I paid into this arrangement for 2 years, some £367 each month.

The last payment that I made to this arrangement was in March 2008, as I lost my job. Just when I was about to contact the Licensed Practitioner who put the arrangement together, I received a letter saying that their company had gone bankrupt, this was in 2008.

I have not received any correspondence since March 2008 until when I received a letter from a firm of solicitors June 2014 saying that the debt had now been sold to them and that I have 7 days in which to contact them to agree a payment plan for the debt. The debt is £775. I have paid into the IVA for two years, my total debt them was about £21,000, as their are other creditors. What has happened to the money that I have paid into the arrangement? I have also checked to see whether I could find myself on the IVA REGISTER, I could not.

After I received the letter telling me that the company responsible for arranging the IVA had gone bankrupt, i then received another letter saying that I may have been mis-sold an IVA and that I should stop paying into the IVA.
The last payment that I made into the arrangement was March 2008.

I have not received any further correspondences from any of my creditors and I have moved to a new.

With regard to the court action for the £775, I intend to defend the claim by saying that the debt is statute barred. I suspect the other creditors will try and come after me, but i have not paid , acknowledged in writing or verbally any admittance to the debt.

Can this debt be deemed Statute Barred. I have not contacted the court as yet.

Zealous3g:(

sourcrates

Hi,
Just followed your thread from debt free wannabe.
I would suspect it is SB yes, as all your other debts probably are too, I would use this as a full defence, its then up to the other party to prove otherwise.
As regards the money you paid into your IVA, if its possible I would try and seek out the receiver who dealt with your IVA companies bankruptcy, although with the passage of time, you may now be too late to get any of it back im afraid.

Zealous3g

Hello sourcrates

I have checked the insolvency register and I am not listed as having an IVA.
I intend to defend the claim against me on the grounds of SB
Would it be best to mention or not mention the fact that I had an IVA as this is the only proof that I have of a last payment being made to the arrangement before the Insolvency company went bankrupt. Also there is no information about an IVA on either of the major credit reference files!!!
I do not want to acknowledge the debt.

Thank you

Zealous3g

longtermplanner

Tell them when the last payment you made to the debt was (March 2008) and that you have heard nothing for the last 6 years so it is statute barred.

Zealous3g

Hello longtermplanner

Thank you for your comment.

Zealous3g.:T

Giggles_Fairy

I'm not sure saying it is SB is going to be clearcut. I may have misunderstood but I think you say you have moved home? Did you inform all your creditors of your new address? Creditors can send annual statements even when you are on an IVA so they could have been sending them to your old address if you did not update them - if this is the case then it is not SB.


The IVA and not knowing how it concluded complicates matters massively. I think first you need to look into this and try and find out as much information as possible about where you stand with the IVA.


Did the IVA ever show on your credit file? Do all the debts still show that were included in your IVA as outstanding? Or settled? Or not at all?

-taff

Giggles_Fairy wrote: »

Creditors can send annual statements even when you are on an IVA so they could have been sending them to your old address if you did not update them - if this is the case then it is not SB.

Is it not statute barred because the OP hasn't acknowledged the debt in writing or with payments for over 6 years?

Giggles_Fairy

-taff wrote: »

Is it not statute barred because the OP hasn't acknowledged the debt in writing or with payments for over 6 years?

The creditor/lender that must not have contacted the each other for 6 years for it to be statute barred, otherwise everyone could ignore creditors for 6 years and have debts classed as SB. If the creditor can show they have sent a letter in the last 6 years to the last known address they had for the OP then it is not SB. Which is why I was wondering if they have moved address and not updated the creditor.