payment distibution

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recovering
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by recovering » Sat May 06, 2017 11:24 am
I just had 3 statements from Max recovery this morning. I realise I had more than 3 debts but I pay over 7000 per year into Iva and the monthly dividends to these 3 creditors range from £2 to £100 .The largest of these 3 debts has reduced by £400 only in a year! Doesn't seem much!
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Foggy
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by Foggy » Sat May 06, 2017 12:00 pm
From the IVA payment you make each month a percentage will be drawn as Supervisors fees ( as will the first few months payments in their entirety to pay Nominees Fees ). It is only in the latter portion of the term that the creditors get more in the way of dividends. In any event, they are getting whatever they signed up for.
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kallis3
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by kallis3 » Sat May 06, 2017 1:21 pm
As long as it all completes on time with no problems you have nothing to worry about and you will be free!
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recovering
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by recovering » Sat May 06, 2017 2:47 pm
I'm in 6th year, I was just interested no big conspiracy theory! If my first payment was in Feb should my last be Jan?
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kallis3
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by kallis3 » Sat May 06, 2017 2:53 pm
You will need to clarify that with your IP.
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recovering
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by recovering » Sat May 06, 2017 4:34 pm
Wouldn't that be great.....still waiting on acknowledgment of uplift last month let alone anything else!
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