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Ask Max Lowry Your Own Question

Max Lowry
Max Lowry, Advocate
Category: Law
Satisfied Customers: 1457
Experience:  LLB, 10 years post qualification experience
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I was in a iva and lost my job I had paid into the iva for

Customer Question

I was in a iva and lost my job I had paid into the iva for approx twelve months. I got myself anotherjob with a lot less wages and could not afford to pay into the iva, it went to court and they gave me time to earn better wages. In between this the company I had the iva with I assume sold my account onto another debt company,they sent me a couple of letters for reference only. I then recieved a letter from this company saying my iva had failed. I am now recieving letters from debt companys chasing me for the debt I am still on a low income and just barely pay my bills every month. I feel I was badly advized right from the beginning. If you could give me some advice.Tankyou. XXXXX XXXXX
Submitted: 3 years ago.
Category: Law
Expert:  Max Lowry replied 3 years ago.
Hi, welcome to the site. My name is Max and I will help you with your question. Do you wish to complain against the IVA/Supervisor?
Customer: replied 3 years ago.

should they have sold my iva to another company

Expert:  Max Lowry replied 3 years ago.
When you say it was sold can you please give me the name of the previous provider and the present provider please? In the last couple of years quite a few IVA companies have gone out of business themselves.
Customer: replied 3 years ago.
Tenon then grant Thornton
Expert:  Max Lowry replied 3 years ago.
Thank you for confirming. Your IVA was not sold but transferred to Grant Thornton. Tenon recently disposed of the part of its business which deals with IVA's and transferred all its existing IVA's to Grant Thornton. This is perfectly normal. However, Tenon, either before the transfer or Grant Thornton, after the transfer should have written to you to inform you of it and what you need to do or could do. If they failed to do this you could complain about them. . Here is a link to further information about complaining about the insolvency practitioner, the Supervisor who was looking after your IVA http://www.insolvency.gov.uk/howtocomplain/complaininssip.htm .

It is possible to enter into an informal arrangement if you are struggling with your creditors - you may try a debt management plan - it's free and could really help you as long as you are able to make some monthly payment towards your debts, see the link http://www.payplan.com/?site=desktop

Payplan is a debt charity and could help you going forward.

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