Myself and my husband had seperate IVA's, included was an unsecured loan as part of our mortgage for £25k ( half each) when our completion paperwork and certificate has arrived it states that we each had £25k this is included in breakdown, do we notify them? of the mistake, we did have to go to 72mths due to NRAM
I could be wrong but I don't think this is a mistake. In our iva's we havea joint loan and the full amount shows in both statements.. Hopefully an expert will be along soon to clarify.
Hi Thanks for your reply, I'm just confused though as it has brought down our dividends paid to the creditors?, does that mean they take off £25K or £50K ( I'm not anticipating the £50k) the final figures on each completion breakdown should really be £12.5k as it was shared. Thanks
You are both jointly and severally liable for a joint loan so the whole amount is owed until the IVA is completed and then a proportion will have been written off.
It should state on your paperwork what dividend has been paid out but obviously there isn't a problem.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thank you, all completed and certificates received now so onwards and upwards, although I haven't posted much Thank you all ( as this forum has been a lifeline)
Glad you're all done and dusted. Doesn't matter you haven't posted much, what is important here is the words that forum has been a lifeline. Thank you for saying that and we hopefully help many more that either post a lot or not much as we do have those just looking in for advice.
All the best for a very happy and rosy future.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Good luck for the future and please don't forget us!!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
