hi my partener and myself started iva's last october as we could not afford to pay due to me having a accident at work and pay in £100.66 a month to our plans, i am getting an insurance payout due to a work accident and i would like to find out how much it would be to pay off my iva in full,i owed £5,090.07 on my credit card and a joint overdraft we owed £209.83 and £19,068.39 on a joint loan and the total is £24,368 owed to my creditors and have paid in so far £2,019.79 and the estimated dividend to my creditors is 41% , the noms fee is £1,000 + disbursments+ vat and supervisors fee £2,162.48 + 15% on all asset realisations,disbursements and creditors meeting £700 total together £3,862.48 + the interest what would be charged on the original amount. do i just pay off my proportion of the debt on my iva plan or do i pay it all and as we have 2 plans does this mean we have to pay twice the fees as above thankyou . ant
If there are two separate IVAs you should only be liable for your own IVA which would include the joint debt. In addition, not all the funds may be captured by the IVA so it is possible you could offer a settlement from those funds to close down the other IVA. Your own IP should be able to advise properly as no doubt they knew about the claim and how it has been addressed within the proposal.
