Minimal payments to my CC company

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paul217

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Joined: Sun Jan 21, 2018 10:34 am

Post by paul217 » Thu Feb 14, 2019 8:49 pm
I’ve just received a statement from the credit card company saying the Iva company has only paid £10 in 14 months. Is this normal?

Foggy

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Location: United Kingdom

Post by Foggy » Thu Feb 14, 2019 8:59 pm
Yes. Most proposals agree that the nominees fee charged by the IP is paid first, before money gets distributed between creditors. Also some creditors freeze actual accounts early on and set up dummy, administrative, accounts for the IVA dividends, so the statement for the actual account they send out is pretty much meaningless and are often supressed so we don't actually get them, but a few slip through.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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