www.iva.co.uk

Hi,
I am soon going to be entering my 6 month in my IVA and everything seems to be going fine.
I get no more letters or correspondence from my creditors and the one thats not updated it's records i forward onto my IP.

I would like to know How are the IVA payments distributed.
is it the first years goes to paying the IP for supervising the IVA and thereafter the months that follow you pay in and on the 60th month the remainder is distributed to your creditors on your chairmans report and the remainder written off.

Hi Andrew,

I don't know the answer - sorry! I'll put this back up to the top though. Hopefully one of the experts will be along and answer it for you.

bump!!

ip will take fees and creditors will get payments also as the iva goes along.when you have a review it will show you what has been paid and were it has gone[}:)]

It will depend upon the wording of the proposal, and any modifications which were put forward by creditors. Creditors these days are expecting to receive their money on a quarterly and even a monthly basis.