Anything after IVA

matty2431 Forumite Posts: 7
First Post
A few years ago I lent a friend £15000 to help his business 
He lost contracts and the business failed , he went into an IVA
He then paid about £9000 off the £120000 he owed and was marked as complete 
Other creditors agreed and he got over 85% approval .I didn’t agree
I have received only £878 back and now can’t go any further legally, is that correct
or is there any other way to try and claw some more money back  


  • fatbelly
    fatbelly Forumite Posts: 19,213
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    That's correct - he only needed 75% approval to get the IVA approved.

    You all got a return of 5% by the sound of it - the rest (3k ish) would have been fees.

    That's the way an IVA works and that's the end of it now.
  • mwarby
    mwarby Forumite Posts: 2,044
    Part of the Furniture 1,000 Posts Name Dropper
    If the IVA only got £9k be thankful he didn't go bankrupt, if he had you'd most likely have seen £0
Meet your Ambassadors


  • All Categories
  • 338.9K Banking & Borrowing
  • 248.6K Reduce Debt & Boost Income
  • 447.6K Spending & Discounts
  • 230.8K Work, Benefits & Business
  • 600.9K Mortgages, Homes & Bills
  • 171.1K Life & Family
  • 244K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards