Hi folks.Been in an IVA for 12 months.My understanding was that each creditor would get a payment from the 'monthly amount'.However it looks that some have had something,others nothing and I am informed that some have not elected to request anything yet!.I have received a statement from one with interest added as the monthly payments have not been regular.What is going on?
Hi Trading Places - welcome to the forum. Don't worry, the creditors will all get their fair share of the IVA pot overtime - it is up to them how they draw down the funds - if every creditor drew down their share of every related IVA every month there would be a log jam of transactions!
Hope that puts your mind at rest
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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