It will depend on the terms of your IVA proposal as to whether statutory interest is paid. Some IVAs do ask for this others don"t - equally if yours does you can discuss with your IP to see if a proposal to creditors can be put forward to remove that clause. I was in this situation and we were removed from the need to pay it and our IVA concluded at this point.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
It is now 8 months after we finished paying our 61 IVA installments.
We have received the documents relating to our variation meeting in January 2015. Our anticipated dividend is 100%. Is there anything in this letter that we need to sign and return?
Also we would like to know if there will be any additional charges when our IVA is closed?
If at this variation is accepted by our creditor's, would this then bring our IVA to closure?
If the variation is approved than the IVA will be closed down. I assume the variation is to exclude statutory interest as otherwise I am wondering why a variation has been called at all.
