IVA Query

[pclarke82]

Hi all, i am currently in an IVA and when i set it up i thought i had included all my creditors. However 1 has surface from about 4 years ago. Now i dont mind ignoring it as i have in the past but as im in this iva and its a fresh start i would really like it to disappear. Can i add another debt to an already arranged IVA?

[National Debtline]

Hi pclarke82

 

If you want to belatedly include this debt in the IVA, you will need to speak to the Insolvency Practitioner (IP) handling your IVA. They may be able to propose a modification to the IVA to incorporate it into the remainder of the IVA term, but this will depend on a majority of your creditors giving this the thumbs-up.

 

If this cannot be arranged, the balance on this debt will not be written off upon completion of the IVA and you will have to look at other ways of dealing with it. If the debt is 4 years old it is unlikely to beccome statute barred just yet. We would advise you to hold fire on contacting them for now and you may wish to give one of our advisors a call on the number below for a more detailed look at your options.

[Stigman]

However 1 has surface from about 4 years ago.

 

Even though you have generally forgot about the debt, you have not stated what the debt is for?

 

If 4yrs have elapsed, was the 4yrs your last payment date or was their some time span beforehand?

 

Also, maybe worth a check on your credit file to see if the debt is listed.

 

Stigman