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Debtor and creditors |
I am due to receive a sum of money from a building society after an award by the financial ombudsman.
I currently have a number of creditors and wanted to know if the building society could inform them of my imminent payment of even pay the money to them.
As far as i know this building society is not linked to any of my creditors
thank you
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Re: Debtor and creditors
The building society cannot inform your creditors they have paid you a lump sum. This can only happen if the court has issued a Third Party Debt Order which instructs the building society to transfer funds directly to your creditors. However, if you are in a formal agreement with your creditors through a Debt Management Plan, IVA, IPA, Bankruptcy or similar; then you are obliged to let them know that you have received this extra money.
This question has been answered by Christians Against Poverty, a leading debt charity offering hope and a solution to anyone in debt.
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