Posted: Wed Sep 05, 2007 3:40 pm
Hi all,
I've recently had my first annual IVA review (WOOHOO!!) and I've just received my creditors statement but I have a question that I was wondering if anyone could help me with...?
* The letter states that, due to increased creditor claims (one was £3K difference), we will have a shortfall of over £3K although a few creditors have yet to stake their claims. We're paying 100p/£. As per our IVA T&C, we've just paid almost £2K as 50% of our overtime so will such payments in the future be taken off the £3K shortfall? I'm assuming it will as we're paying back 100% so surely there's a 'ceiling' as to what we pay during the IVA term?
I hope that all makes sense - I read the letter and panicked but I'm hoping it's nothing too much to worry about.
Thanks in advance,
Ricki x
I've recently had my first annual IVA review (WOOHOO!!) and I've just received my creditors statement but I have a question that I was wondering if anyone could help me with...?
* The letter states that, due to increased creditor claims (one was £3K difference), we will have a shortfall of over £3K although a few creditors have yet to stake their claims. We're paying 100p/£. As per our IVA T&C, we've just paid almost £2K as 50% of our overtime so will such payments in the future be taken off the £3K shortfall? I'm assuming it will as we're paying back 100% so surely there's a 'ceiling' as to what we pay during the IVA term?
I hope that all makes sense - I read the letter and panicked but I'm hoping it's nothing too much to worry about.
Thanks in advance,
Ricki x