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by Lisa Thomas
Fri Apr 20, 2018 10:50 am
Forum: Ask IVA Forum and Industry experts
Topic: Replacement copy of IVA completion certificate
Replies: 3
Views: 638
IPs only have to keep their records from 6 years after closure so I suspect the records were gone anyway. Your only option might be the insolvency service. What do you want it for?
by Lisa Thomas
Fri Apr 20, 2018 10:46 am
Forum: Ask IVA Forum and Industry experts
Topic: I have no idea how much I need to be asking to remortgage for
Replies: 30
Views: 1272
Hi if you have standard terms then no - you are mixing it up.

If you have less than £5k equity the equity clause does NOT kick in so the extension will not apply and the case can be closed.
by Lisa Thomas
Fri Apr 20, 2018 10:45 am
Forum: IVA approved!
Topic: Hey
Replies: 8
Views: 755
They don't need to calculate until 2021, they need to calculate to the date of the estimated dividend and costs to the closure of the case, otherwise they are charging you for extra interest, at a future date, which should not be applicable and costs until 2021.
by Lisa Thomas
Fri Apr 20, 2018 9:47 am
Forum: IVA approved!
Topic: Hey
Replies: 8
Views: 755
£5,300 plus say 2.5 years interest of 8% of c£850 plus say 15% of costs = £7,073 so worth speaking to your IP to find out if you have paid enough. I have estimated costs standard at 15% but this may not be the case in your IVA and may be the sticking point. Doesn't allow for any outlays, or any outs...
by Lisa Thomas
Fri Apr 20, 2018 9:21 am
Forum: Ask IVA Forum and Industry experts
Topic: Bankruptcy and self employed
Replies: 7
Views: 937
For the benefit of other sole traders out there - if you go Bankrupt the Official receiver or any trustee appointed has to give permission fo you to continue trading. To make this decision they will consider, amongst other things, - what type of trade is it (risky etc)? Is it profitable (if not they...
by Lisa Thomas
Fri Apr 20, 2018 9:03 am
Forum: IVA approved!
Topic: Hey
Replies: 8
Views: 755
I'm afraid your IVA won't finish early unless and until the total debt, any applicable interest and costs have been paid in full. If it's an extra £2k than your were originally estimating to pay back then this just means creditors will receive more than was original predicted - your IVA will continu...
by Lisa Thomas
Fri Apr 20, 2018 8:53 am
Forum: Ask IVA Forum and Industry experts
Topic: I have no idea how much I need to be asking to remortgage for
Replies: 30
Views: 1272
I think you have misunderstood what I have said about equity. How much equity is there in your property? You may not have to extend your IVA if you have standard terms and have less than £5k. A valuaiton is probably in order - if you can show you have less than £5k (assuming you have the standard cl...
by Lisa Thomas
Fri Apr 20, 2018 8:51 am
Forum: Ask IVA Forum and Industry experts
Topic: I am going to pay more back than I owe on my IVA - Is this right?
Replies: 6
Views: 1072
Statutory interest is possibly a standard term in your IVA proposals although in most of mine we propose for interest to be waived. It's calculated at 8% per annum from the start of the IVA to the date of any dividends paid. If it applies to you then you could propose a variation asking creditors to...
by Lisa Thomas
Thu Apr 19, 2018 8:22 am
Forum: Ask IVA Forum and Industry experts
Topic: I have no idea how much I need to be asking to remortgage for
Replies: 30
Views: 1272
Are you sure the extension clause will kick in? I presume you have 'standard' terms, if so do you have more than £5k of equitable interest?
by Lisa Thomas
Thu Apr 19, 2018 8:21 am
Forum: Ask IVA Forum and Industry experts
Topic: Payments not made to creditors
Replies: 4
Views: 1103
I expect the £3k has been swallowed up in costs. Some IPs do not pay a dividend until the end of the IVA, depending on the figures involved.

Check your proposals and modifications to see the proposed dividend dates or if in doubt ask your IP about it.
by Lisa Thomas
Thu Apr 19, 2018 8:14 am
Forum: Ask IVA Forum and Industry experts
Topic: I am going to pay more back than I owe on my IVA - Is this right?
Replies: 6
Views: 1072
As Foggy says you always owe the debt, interest and costs throughout an IVA and any balance unpaid at the end of a successful IVA is written off.

The IVA would have meant that you got to keep your property which would likely have been lost had you been made Bankrupt.
by Lisa Thomas
Wed Apr 18, 2018 11:19 am
Forum: Ask IVA Forum and Industry experts
Topic: Iva full and final
Replies: 3
Views: 1215
Once they have received everything they need from you they have 21 days to call the creditors meeting to consider your variation. (This will be in your terms - check the variation section) They have to give at least 14 days notice of the meeting. So unless is is adjourned, once you gave them everyth...
by Lisa Thomas
Wed Apr 18, 2018 8:08 am
Forum: Ask IVA Forum and Industry experts
Topic: Sell off house to pay off IVA
Replies: 3
Views: 1475
You could propose a variation to sell the house and pay creditors the same amount they would have received in contributions had the IVA continued in the normal way, from the equity. But get this variation agreed FIRST otherwise all of the equity will have to be paid into the IVA unless and until the...
Search found 6513 matches Page 1 of 435