I have become slightly unnerved reading about issues encountered when nearing the end.

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Michael Peoples

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Post by Michael Peoples » Tue Nov 11, 2014 7:35 pm
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It is unusual that you will have repaid in full with the IP fees on top. If however there is no equity at the end the IVA will cease and creditors will not have received all their money. Your calculations would be right.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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Brian.72

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Post by Brian.72 » Tue Nov 11, 2014 7:47 pm
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So, in my case, I will have paid back £28000 of the original £30000 debt by the 60th month, will I only owe £2000?
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Foggy

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Post by Foggy » Tue Nov 11, 2014 7:54 pm
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No ---- out of the £28k you paid in, some £6 - 7K has gone in fees, so only £21k has gone to the debts, leaving £9k outstanding.
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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Brian.72

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Post by Brian.72 » Tue Nov 11, 2014 8:16 pm
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I've got it!!

Sorry it took so long, I've been on the forums for 2 day's now, my eyes look like the ones on my avatar, think its a touch of Forum-itus!
Thanks again Foggy and Michael, I appreciate the time you have given.

Brian
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Michael Peoples

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Post by Michael Peoples » Wed Nov 12, 2014 7:55 pm
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You are welcome. Glad you got it and I certainly did not help!
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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Foggy

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Post by Foggy » Wed Nov 12, 2014 8:19 pm
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No worries, Brian :-) Someone is always here if you have any more questions.
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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