Interest

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Tony.mac

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Post by Tony.mac » Fri Jan 25, 2013 11:04 am
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I've just noticed that one of my creditors have been adding interest while in IVA.Is this right as I thought charges and interest are frozen?
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Foggy

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Post by Foggy » Fri Jan 25, 2013 11:48 am
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Hi. No, they cannot add interest and this will not be admitted as part of their claim by your IP.

I assume you noticed this from an annual statement sent by the creditor.

BTW -- I tidied up the duplicate post for you :-)
Last edited by Foggy on Fri Jan 25, 2013 11:50 am, edited 1 time in total.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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TheArtist

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Post by TheArtist » Fri Jan 25, 2013 2:59 pm
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Tony, as Foggy says, no they cannot. Was it the annual statement from your creditor. If so, copy it, send it to your IP, and they will deal with it.
Completed IVA - August 2012 pheeeeeeeeeew
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Tony.mac

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Post by Tony.mac » Fri Jan 25, 2013 9:26 pm
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Thanks for your replies much appreciated. Yes I was looking through annual statements they have sent over past two years and interest added on. I will send copy to my IP. Thanks Foggy I'm still learning how to post things on sites :-)
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luluj

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Post by luluj » Sat Jan 26, 2013 7:06 am
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Our creditors continued to add interest but at the time of paying them our IP based payments on the submitted claim only. I think they continue to add interest in case the IVA fails and the debt becomes 'live' again in full and the debtor fully responsible.
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