www.iva.co.uk

Hi not been on for a while,I was looking at my credit report this morning and I did a tot up of the total debt I owe.And i noticed 2 differences. 1/ Max recovery had purchased the debt from virgin and split it down to 2 totals.2/ This had made the total debt i owed 69472. But on my proposal it stated i owed 72792 a difference of 3320.
My IVA was accepted at 40p in the pound. At this figure it is just over 42p in the pound. My question is have i understood this totally wrong or is this correct.The 2 max recovery totals seem alot less than I owed virgin.Can someone advise,Would be appreciated.
P

Max recovery have been sold or have bourght the debt from Virgin. The balance makes no difference to your IVA. It does however mean the dividend offered to Virgin will be a little higher now it is with Max Recovery.

Balances can change when the debt is purchased by a collection agency. hey normally purchase debt at a percentage of the total oustanding. For example. 10k can be sold for 6k. Any funds paid over the 6k will be profit to the collections agency.

As I say, your IVA is aready set up. Do not be concerned.

No Fee IVA and Debt Management Advice.

Thanks for that just curious really,The only figure i have to worry about is my monthly standing order.

Thanks again

P