No balance on statement

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Post by jacqui338 » Thu May 14, 2020 5:06 am
Hi When I get a statement it just shows what I have paid, but not the balance left to pay.


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Post by kallis3 » Thu May 14, 2020 7:05 am
I wouldn't worry about it. Your company know how much is left on your IVA. You can always ask them if you like but remember you always owe the full amount of your debt until the IVA finishes.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.


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Post by Foggy » Thu May 14, 2020 7:46 am
Statement from who ? If it is from the IVA provider, there is no final figure set in stone as the amount actually still due, at any time, is the balance of the full original debt, plus fees and also statutory interest, which varies from day to day -- it has nothing to do with how much you will be actually paying until the end date.

If it is a statement from a creditor -- again this would be meaningless, as, although interest and charges are not actually applied -- they are still payable if the IVA fails. Most creditors set up dummy accounts to deal with the incoming dividends as the old account will be written off when the IVA ends successfully.
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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