Interesting debate and be good to hear from anyone having experienced the issue. Out of interest, I was advised initially by PayPlan to opt for Iva instead of DMP because of the fact interest being accrued could not be guaranteed with DMP. Interest would not be added under Iva. Now there is potentia...

Thanks, some really great support here. Out of interest, what is ‘statuary Interest’? Is that an agreed rate or something? And how is it worked out?

Hi. I’m at the point of equity release in my IVA. However due to wage and payment increases, I have nearly paid back 100% of my debt. Payplan suggesting I’ll need to release equity for fees AND interest charges taking me way over original balance. This correct?