Ive been in an IVA now for thelast 17 months, I only believed my debts when I got into it to be around £20,000, but they have come back at £29000!! When Ive looked into this it seems that the 10k loan I took out with BoS, are now saying that I owe them 20k?? How can this be I only missed one payment before I entered it and it definetly wasnt a 100% intrest pay back?? I have asked my IVA company this question endless times and all I ge back is "it just is", they said theyve looked into it but it is as it is?? I am trying to get to the bottom of it as I am due a bonus next year which would ideallysee me settle this IVA, but I wont be able to do this if that isthe true figure?? Any advice?
If you took out a 10k loan you will find that BOS will calculate the amount owed as the amount that you would have paid back during the lengh of the loan, less payments made. So it is possible that a 10k loan can mean owing 20k, I'm afraid.