What do I do about letters from creditors?
Again, in the early days after your IVA is approved, creditors may still not have updated their systems and letters may still pop through your letterbox. Often these letters are automatically generated and until the systems are updated.
You can keep them for your records or dispose of them accordingly. There’s no need to call a creditor about these letters and they will usually stop within three months.
You’ll probably still receive annual statements as they’re obliged to send you statements at least once a year, and these aren’t demands for payment. This is perfectly normal and nothing to be worried about.
What do I do about creditors taking further action against me?
If you’re concerned about the creditor defaulting your account or threatening legal action, such as from bailiffs or about a County Court judgment (CCJ), you should contact your IVA supervisor.
What's a 'Notice of Assignment'?
A ‘Notice of Assignment’ is a letter about a debt that has been sold on to a third party, such as a debt collection agency
Creditors are still entitled to buy and sell any debts listed in your IVA, but the creditor who buys the debt will still be bound by the terms of your IVA. They can’t take any action to recover the debt.
The ‘Notice of Assignment’ letters aren’t demands for payment, they are sent to you for information only. If you receive any, please send them to us so we can update our records and ensure any correspondence is sent to the right creditor.
What if I forgot about one of my debts
If you’ve forgot to include one of your debts in your IVA proposal or it was something you were previously unaware of until they contacted you, it’s important you notify your IVA supervisor immediately. An IVA is binding on all the creditors but your IVA supervisor can advise you on how this debt can be addressed and the next steps.