Repaid loan premiums

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Post by sarah.18 » Sun Aug 29, 2010 7:39 am
My husband and i are in an IVA and are due to recieve £2,500 pounds in repaid loan premiums and are wondering how much of it we will have to pay into the IVA?
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Post by kallis3 » Sun Aug 29, 2010 7:55 am
Hi Sarah,

Unless the creditor in question keeps it to offset against their loan, which they are quite entitled to do, I'm pretty sure you will have to pay it all across.

Either way it means that your creditors will receive a better dividend.
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Post by Shining » Sun Aug 29, 2010 10:37 am
Hi Sarah, welcome to the forum.

I feel thsi would be classed as a windfall and payable into your IVA for 100% clariication contact your IP. As Jan says you'll be increasing the amount paid to each creditor unless it's offset. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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