At what point does the interest you pay stop

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george.m

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Post by george.m » Wed Feb 20, 2008 5:46 pm
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At what point does the interest you pay stop to acrue

If the debt is in the region of £18,000 and you agree a monthly repayment figure of £350 per month over what period would you have to play this back
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MelanieGiles

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Post by MelanieGiles » Wed Feb 20, 2008 5:56 pm
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Hi george and welcome to the forum

In an IVA interest stops accruing from the date of the creditors meeting.

As an observation, I would question the need for an IVA if you can afford to pay back £350 per month. This means you would be paying over £21,000 for a debt of £18,000 - a DMP might be a better option.
Regards, Melanie Giles, Insolvency Practitioner
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