www.iva.co.uk

good evening everyone hope you all enjoyed the lovely freezing weather [:p]
what i was interested to know was when an iva is approved how are the funds allocated ?
does every creditor get the same or does creditors you have your largest debts with get more ? forgive me if it sounds stupid i was just interested

its a propration, i think after ips fees, if you left with 40% of the original debt, then each creditor will get 40% of what they owed, i think that is basically it, ie this is why it might say in your chairmans report each creditor will get 40p to the £

thanx james
its not in place yet so this is all speculative on my part.
ps go watch x factor- i can sense youre a britney fan -maybe ? [;)]

Hi
James is spot on.
The funds are distributed pro rata to the amounts owed.
Regards

thankyou andy