Can I question the balance IP has given me

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david275
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by david275 » Wed Jun 06, 2018 1:08 pm
Hi im currently in an iva and goin throught the equity part of it which should have been sorted 6 months ago ive contacted my iva superviser to see how much my balance was she told me and to be honest was a little shocked to hear that it was still more then 10'000 so i got the list of creditors that are in my iva and found out how much i owe each of them when added together the balance i got was a lot less would i be in my rights to question this or is it that the balance i was told would have other charges in with it
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kallis3
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by kallis3 » Wed Jun 06, 2018 1:13 pm
Do you have any equity? Don't forget you have to add on fees and probably statutory interest.
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Foggy
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by Foggy » Wed Jun 06, 2018 1:21 pm
Tha balance includes fees, the full original debt and probably statutory interest at 8% per annum. Only at the very end is anything unpaid written off.
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Lisa Thomas
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by Lisa Thomas » Fri Jun 08, 2018 8:33 am
It depends on what question you asked them - if you asked what it would cost to settle this is direct from how many payments you have remaining.

D you have the standrd equity clause that says it only applies if you have over £5k of equity? (and if so do you have more than this level of equitable interest? If not then it won't apply to you).
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