Almost at the finish

Get expert opinion. This is the place for new questions to be posted.
7 posts Page 1 of 1
Pieman46
Posts: 3
by Pieman46 » Sun Mar 18, 2018 12:45 pm
I am two payments away from my 60th payment. I had an equity clause too. I offered a lump sum 4 months ago to conclude my IVA which was around a years payments. However this was dismissed due to the equity clause. I knew I wouldn’t have equity. I went through the process got a valuation etc..

Just received a letter from IVA company with the calculation and to confirm that the proposal is satisfied and the arrangement will conclude accordingly once all payments have been received. No further requirement in respect of the property and no extension will be applied.

I assume this is good news.

A month prior to the IVA I originally started with a DMO which I paid 2 payments. This didn’t get paid anywhere and then they contacted me and talked me into in IVA. When my IVA started I questioned the two payments and I just got oh these will just go towards fees. As far as I can see they haven’t. Can I claim these back?
User avatar
Foggy
Forum Expert
Posts: 27498
Contact
by Foggy » Sun Mar 18, 2018 1:06 pm
Well done on getting this far -- not long now. They should give you a completion report, in due courese, which will detail income and expenditure on the IVA, so you can see what went where.
Pieman46
Posts: 3
by Pieman46 » Sun Mar 18, 2018 1:15 pm
Foggy wrote:
Well done on getting this far -- not long now. They should give you a completion report, in due courese, which will detail income and expenditure on the IVA, so you can see what went where.


Thanks Foggy.

If that’s not allocated would you assume that would go to creditors/fees or could I request that back?
User avatar
Foggy
Forum Expert
Posts: 27498
Contact
by Foggy » Sun Mar 18, 2018 2:28 pm
Pieman46 wrote:
Foggy wrote:
Well done on getting this far -- not long now. They should give you a completion report, in due courese, which will detail income and expenditure on the IVA, so you can see what went where.


Thanks Foggy.

If that’s not allocated would you assume that would go to creditors/fees or could I request that back?


In the intital stages of most arrangementsd fees take precedence and are usually deducted first, so I would imagine that these two payments could well have been eaten up that way.
User avatar
luluj
Forum Expert
Posts: 10305
Contact
by luluj » Sun Mar 18, 2018 3:38 pm
Well done - start thinking about life after an iva ...make sure you have one or two treats lined up !
User avatar
kallis3
Forum Expert
Posts: 73800
Contact
by kallis3 » Sun Mar 18, 2018 4:09 pm
Good luck for the future!
Pieman46
Posts: 3
by Pieman46 » Mon Mar 19, 2018 11:58 am
Thank you everyone. Keep up the good work with this site. Although I've not been a contributor to the site it has been informative and helped me over the last 5 years. I would like to say thank you to all the contributors for their valuable information and real life situations. :D
7 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 36 guests