is it correct that statuary interest will be charged. There was no mention of this in proposal.

[Jo.k]

I believed that all of the proven balances would be paid in full in October - 10 months before the IVA was due to end. But I have now been told that 8% statutory interest is being charged so the IVA will run its full course. Is this right? There was no mention of this 8% statutory interest in the original proposal.

[Foggy]

Usually statutory interest is only referred to in the proposal if, as it was in my case, it is to be excluded, otherwise it is there by default.

[lifenoteasy]

Some do, some don't and a lot is implied.

[Michael Peoples]

It does depend on who your IP is as some charge it and others do not. We specifically exclude statutory in our proposals although creditors can request it is payable when they vote at the meeting. They usually do not.