Debts have increased since iva recently accepted

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jing
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by jing » Mon May 28, 2018 1:32 pm
Our IVA was approved last 23may2018 with few modifications discussed to us verbally. Today I received an email regarding the modifications made by the creditors and thats fine as changes did not affect the amount we are due to pah each month. Just a question, I have noticed the figures of our debts are different now(accumulated interest and not paying since we started processing IVA)compared the one on the proposal and approved.

Are all the current debts value will be covered by IVA? Or do I need to tell my IP about it. Before signing and sending back the modified version? Thanks!
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kallis3
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by kallis3 » Mon May 28, 2018 2:57 pm
Nothing to worry about! All debts will be covered but a quick chat with your IP will put your mind at rest.
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MerlinL14
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by MerlinL14 » Mon May 28, 2018 6:33 pm
Don't worry about it Jing, your IP will pick up on it and it is his/her duty to sort it.
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Foggy
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by Foggy » Sun Jun 03, 2018 9:01 am
There is often a difference here -- the proposal is v=baswed upon the debt as you knew it at the time ... creditors will them add charges and interest accrued between that time and the start of the IVA. It rarely makes a difference in the long run.
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