IVA CREDITOR PAYMENTS

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karenanne23

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Post by karenanne23 » Tue Nov 04, 2008 2:17 pm
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Hi
just wondering how creditors receive their paymentsin an IVA

Do they get monthly/ yearly or at the end of the 5 year term.

Thanks x
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caraf

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Post by caraf » Tue Nov 04, 2008 2:20 pm
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Hi
We are 10 months into our IVA and everything is going well so far. It has gone so fast this year.

Our creditors will receive a payment once a year around review time.
Everyone is different I think it will say in your proposal.

Thanks and Good Luck
Carol
x
53 down 7 to go !!
Cant wait till December 2012
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karenanne23

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Post by karenanne23 » Tue Nov 04, 2008 2:25 pm
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Thanks Carole
Sorry yes it does. Misunderstood part of it.

Glad everything is going well, it is such a worry but hopefully one day will be a great relief.xx
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moretolife

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Post by moretolife » Tue Nov 04, 2008 3:49 pm
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our creditors got nothing in first year but did have a dividend paid to them this year after 2nd review ....so thats good to see that the money we are paying in actually goes to them!!!
IVA completed 11th Dec 2009 due to a Full and Final with the fantastic help of Michael Peoples and
Mc Cambridge Duffy

Visit my blog...Journey from Debt to Life Post IVA
http://moretolife.blogs.iva.co.uk
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MelanieGiles

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Post by MelanieGiles » Tue Nov 04, 2008 6:25 pm
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It does depend upon the terms of your proposal, but we are paying quarterly dividends now, as well as annual ones in order to return the monies to creditors on a more regular basis.
Regards, Melanie Giles, Insolvency Practitioner
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David Mond

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Post by David Mond » Wed Nov 05, 2008 1:06 am
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Since the Protocol creditors would like dividends earlier and more are receiving them quarterly as well as possibly monthly.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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