Can a debt be sold on whilst under IVA!?

[Spellkaster]

I have been in my IVA since June 2012.

I have 2 debts listed under the IVA; 1 is an unsecured personal loan, and the other an unsecured credit card.

The debts were originally with the Insolvency Exchange, but when I wrote to them last week, they failed to respond.

I have also had 4 silent calls from a DCA called Rossendales, I am aware that they are very notorious.

So my question is, can the debt be sold on to another DCA whilst its still under an IVA?

I have also noticed that the debts have disappeared off my credit file.

Thanks.

[Nibbler]

Re: Can a debt be sold on whilst under IVA!?

Yes they can. There are even a few companies that specialise in buying debt subject to insolvencies.

[Spellkaster]

Re: Can a debt be sold on whilst under IVA!?

How can I find out if the debt's been sold on?

Its not on the credit file!?

I don't want bailiff's turning up as I am a vulnerable household.

[FlamingParrot]

Re: Can a debt be sold on whilst under IVA!?

I have been in my IVA since June 2012.

I have 2 debts listed under the IVA; 1 is an unsecured personal loan, and the other an unsecured credit card.

The debts were originally with the Insolvency Exchange, but when I wrote to them last week, they failed to respond.

I have also had 4 silent calls from a DCA called Rossendales, I am aware that they are very notorious.

So my question is, can the debt be sold on to another DCA whilst its still under an IVA?

I have also noticed that the debts have disappeared off my credit file.

Thanks.

Silent calls? There's hardly any point for a DCA to call if they are not going to talk to you.

Rossendales are well known for their enforcement services (bailiffs), they are also debt collectors but not debt purchasers: http://www.rossendales.com/

How can I find out if the debt's been sold on?

Its not on the credit file!?

I don't want bailiff's turning up as I am a vulnerable household.

If the debt is subject to an IVA and the IVA hasn't failed, they cannot take any action to recover the debt.

To send bailiffs for a consumer credit debt like yours, the creditor would require a court order (a warrant of control). The warrant can only be obtained after getting judgment against you (a CCJ) which they can no longer do if the debt is subject to insolvency.

[Spellkaster]

Re: Can a debt be sold on whilst under IVA!?

Thank you. I've asked the IVA company to cancel the debt in July 2014, they refused, and its still showing as active on my credit report.

I've not made a payment since July 2014.

I was assessed that I qualififed for a DRO, the IVA company are aware of this, but refuse to close the IVA down, I don't know why!!

[nemesis45]

Re: Can a debt be sold on whilst under IVA!?

Hi what we really need to know is when were the loan and the credit card taken out, when were the accounts defaulted and how much is owed.

Are you sure Rossendale Collect are the company supposedly chasing these debts.
When exactly did you write to Insolvency exchange? You say last week if you take 2
days minimum for post to reach them time to look at your letter respond and another
2 days for post hardly a long a long delay.

I would chase up perhaps tomorrow.

nem

[jon1965]

Re: Can a debt be sold on whilst under IVA!?

Just to clarify, you are saying that you haven't paid any money to the company running your IVA since July last year, if that is the case then I should imagine that the IVA has failed .
On your credit file have you looked at your closed accounts, it could be that the accounts have been sold and closed by the OC but not yet registered by the new owners. You should have had a notice of assignment however if for some reason the IVA is still running that may well have been sent to the IVA company

[FlamingParrot]

Re: Can a debt be sold on whilst under IVA!?

Just to clarify, you are saying that you haven't paid any money to the company running your IVA since July last year, if that is the case then I should imagine that the IVA has failed .
On your credit file have you looked at your closed accounts, it could be that the accounts have been sold and closed by the OC but not yet registered by the new owners. You should have had a notice of assignment however if for some reason the IVA is still running that may well have been sent to the IVA company

Yes, it does indicate it has failed, that would explain the creditors chasing again, if they've received no payments. As far as I know Rossendales don't buy debts, they specialise in collection and enforcement.