IVA settled - overpaid?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
User avatar
Posts: 16
by Tx1pete » Wed Oct 10, 2018 12:35 pm
I settled my IVA early a couple of years ago and I noticed I have paid back more than I owed (101.93%) The 1.93% amounts to about £1200 ,
What’s happened to this overpayment?
User avatar
Forum Expert
Posts: 27984
by Foggy » Wed Oct 10, 2018 12:41 pm
You actually owe, during an IVA, the full original debt, plus fees and statutory interest ... NOT just the agreed payments. Only at the end is anything written off.
User avatar
Lisa Thomas
Industry Expert
Posts: 7238
by Lisa Thomas » Wed Oct 10, 2018 1:34 pm
Did you look at the final receipts & payments account?

This will show you where the money went - the difference is probably in costs and/or interest.
Posts: 9
by Tashie08 » Wed Oct 10, 2018 8:06 pm
I overpaid on mine and wouldn’t of known, found money that had been paid in to my account, when I checked it had come from the Iva company. I rung them to query it and was told it was not an error. Happy days
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 14 guests