www.iva.co.uk

My husband and I completed our ivas in 2014 and finally received our certificate of completion. On checking the details of payments to our creditors we had two joint loans and my contribution was 57% and my husband's was 66% meaning we have paid 123% in total on two of the loans. Is this the way payments are made on joint loans

Hi and welcome to the forum. Good question but unfortunately I can't answer this but will bump it up for another to comment.

Well done on completing and receiving certificates of completion

I would think it is you have paid 57% of your share of the loan and 63% of your husbands share. so for example you had a £200 loan, your share would be £100 each so you have paid £57 and your husband £63?

or am I over simplifying it?

The full amount of the loan should have been listed in both IVAs so if what the poster says is correct then the creditor was overpaid. Once a joint creditor has been in full from both IVA estates their name should be removed and payments to other creditors increased accordingly.

Kathleen - You could speak to your IP about the dividends/calculations - it may be that a refund is due however as your creditors were not paid 100p/£ then the money would simply be divided between all the other creditors pro rata - you may decide not worth the hassle...