is the interest clock still running

3 posts Page 1 of 1
Post Reply
 
 

enquirer1

User avatar
Posts: 4
Joined: Tue Oct 23, 2007 8:38 pm
Location:
Post by enquirer1 » Thu Jan 10, 2008 11:13 am
Quote
When one pays 100 pence in the pound and one has equity in one's house, is the interest clock still running when one goes into an IVA. Is the Administrator in a position to stop the interest clock.
Top
 
 

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm
Location:
Post by Adam Davies » Thu Jan 10, 2008 1:03 pm
Quote
Hi
No,all interest and charges stop.
However it is possible that statutory interest can be added if you are in a position,due to a windfall,to repay the full original debt during the term of your IVA.
Regards


Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
Top
 
 

iva experts

User avatar
Posts: 1271
Joined: Thu Apr 20, 2006 5:31 pm
Location:
Post by iva experts » Thu Jan 10, 2008 1:09 pm
Quote
As Andy has mentioned no interest is charged, unless you have received a windfall that you are putting forward in which you could be charged statutory interest.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
Top
Post Reply
3 posts Page 1 of 1
Return to “postings for january”