What will happen to lump sum in IVA

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Sonia.jj
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by Sonia.jj » Thu Sep 27, 2018 2:09 pm
I have paid 6 years into my Iva the company have a lump sum that I also paid them what is going to happen to the lump sum
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kallis3
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by kallis3 » Thu Sep 27, 2018 2:45 pm
Will the lump sum pay off your total debt plus fees?
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Foggy
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by Foggy » Thu Sep 27, 2018 2:52 pm
What is this lump sum ?
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Lisa Thomas
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by Lisa Thomas » Fri Sep 28, 2018 10:48 am
Assuming it was paid in as part of the ordinary terms of the IVA then it will be used to pay towards the costs of the IVA first then any dividend available to your creditors.
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