IVA proposal

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by mumof3 » Thu Jan 25, 2018 10:39 am
We have got our proposal through to sign.

I just wondered when it says 'estimated dividend to unsecured creditors with 12 extra payments in lieu of re-mortgage 10.60 p/£'

Does that mean the final 12 payments would be more than the normal monthly payment or is that what a final offer can be based on?

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by kallis3 » Thu Jan 25, 2018 10:42 am
Payments should be the same - dividend will be higher for the creditors.
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by Foggy » Thu Jan 25, 2018 10:47 am
IF you get a 12 month extension in lieu of equity ( I am surprised they are assuming this at this stage, unless there is a reason for it ) then they are telling the creditors that they will be getting around 10.6 p in the pound back at the end of the day. The payments for those last 12 months will be at the level they are at the end of the first 5 years, which could be higher than at the outset ( or, rarely, lower).
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