Interest

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andrea746
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by andrea746 » Fri Feb 02, 2018 8:25 am
Do you pay interest to your creditors if you have an IVA?
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Foggy
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by Foggy » Fri Feb 02, 2018 9:10 am
You no longer pay the contractual interest on the debts ... but, if you paid in enough to the IVA to cover the full original debt and fees, you might have to then pay statutory interest at 8% p.a simple, calculated on the reducing daily balance.
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