Advice on post IVA situation

Chester147

Hello

I am hoping for some advice and would be really grateful to hear from anyone who has been in a similar situation before...

I went into an IVA in 2011 but my circumstances changed slightly in 2013 so I managed to agree a settlement.

I've been in the process of trying to improve my credit file and have since found out that one company, Creation Consumer Finance Ltd weren't willing to be part of the IVA so I've continued to default over the years and am now classed as 'delinquent' on my credit report.

The amount outstanding is £1,004 so I called them the other day to see what my options were (thinking I could perhaps offer them a settlement) and they asked me to scan over my IVA and IVA completion info.

I was about to do this when a friend told me that this company could be really nasty and once they have my details, would pursue me for the money plus lots of interest.

I'm just wondering what I can do? Do I risk it and send my info over to them so I can try at last to get it sorted? Or, as we are nearly in 2017, six years will have passed and would it be wiped off my file?

Any help would be really appreciated.

thanks

sourcrates

Hi,

Unfortunately for them, if the debt was included in your IVA, they had no choice if they accepted it or not, as your arrangement was passed by the majority of your creditors, any debt you owed them would of been written off with the end of your IVA.

So you owe them nothing.

Your IVA also gave you full protection from any further action by your creditors, surely you must be aware of this ?

The debt should disapeer after 6 years anyway, if it doesn't, write and complain.

If your unsure if the debt was included, check your old IVA paperwork, or contact your old IP and ask them.

Chester147

Hello there, thank you for your reply.

They weren't included in the IVA but my IP have sent me copies of letters which they sent to inform Creation of my situation and to let them know it had been settled. They sent about 4 letters and it seems that Creation refused to speak to my IP or acknowledge any settlement. I'm wary to contact them and send them the information over as if they weren't on the list of creditors, will that mean they'll chase the debt and add interest and will I be liable to pay?

Thanks so much

sourcrates

Why were they not on your list of creditors then ???

And why would it be settled if they were not included ?

sourcrates

They can't add interest or charges to a defaulted account unless the original loan agreement allows them too, most do not allow this.

National_Debtline

Hi Chester147,


If this debt built up before your IVA began in 2011 and this debt was listed as a creditor then they were legally locked into the IVA once it began. This is explained on several reputable sites, such as gov.uk.


You should consider a formal complaint to the creditor and make them aware that they shouldn't have been marking your credit file after the end of the IVA. The balance should be recorded as £0 and partially settled and if they refuse to update your file you can consider escalating this to the Financial Ombudsman Service and Information Commissioners Officer.


Laura
@natdebtline

Chester147

Hello

Thanks again for your responses. I don't know why they weren't included in the list of creditors but they don't feature and I think it was just missed off. It might be because it was one of those 'buy now, pay later' deals and I hadn't included it whilst going through my debt with my IP. Therefore, can they claim they weren't aware or part of my IVA and therefore, insist I pay not only the amount owing but with added interest?

Even if I had to pay the outstanding amount (originally about £400 for a TV) which was increased to just over £1000 with their interest - I would pay it just to get rid of them but where do I stand on them claiming I owe a lot more money due to interest they decide to add?

I'm concerned I might open a can of worms by sending them my IVA info, to show they weren't on creditors list but I'm really keen to get it sorted once and for all.

Thanks

Blkwidow

Can anyone help, I entered into an Iva in 2007 and they would not close it until 2014 because of the Green case.

Up until that point they never did a completed annual assessment to tell me what I should pay each month, even though I told them what my annual salary raise was each year!!

Also I asked them to chase my PPI in 2009 to help towards the debt which they started and have never stopped, they said I have signed something but I know I haven't!

In addition they have changed hands twice and I was only pre informed about the first change?? The most recent one I only knew as I got mail from another name???

Can anyone help??

sourcrates

Blkwidow wrote: »

Can anyone help, I entered into an Iva in 2007 and they would not close it until 2014 because of the Green case.

Up until that point they never did a completed annual assessment to tell me what I should pay each month, even though I told them what my annual salary raise was each year!!

Also I asked them to chase my PPI in 2009 to help towards the debt which they started and have never stopped, they said I have signed something but I know I haven't!

In addition they have changed hands twice and I was only pre informed about the first change?? The most recent one I only knew as I got mail from another name???

Can anyone help??

Hi,

Post on the DRI/IVA board please.

Thanks

sourcrates

Chester147 wrote: »

Hello

Thanks again for your responses. I don't know why they weren't included in the list of creditors but they don't feature and I think it was just missed off. It might be because it was one of those 'buy now, pay later' deals and I hadn't included it whilst going through my debt with my IP. Therefore, can they claim they weren't aware or part of my IVA and therefore, insist I pay not only the amount owing but with added interest?

Even if I had to pay the outstanding amount (originally about £400 for a TV) which was increased to just over £1000 with their interest - I would pay it just to get rid of them but where do I stand on them claiming I owe a lot more money due to interest they decide to add?

I'm concerned I might open a can of worms by sending them my IVA info, to show they weren't on creditors list but I'm really keen to get it sorted once and for all.

Thanks

If they were not on your list of creditors then the debt still stands unfortunately.

No good sending them your IVA info, as it won't be applicable to them.

You can always make them an offer to settle amicably ?

sourcrates

One other thought, if you've not acknowledged this debt in writing or paid anything for the last 6 years could it be statute barred ?