Our IVA was approved last 23may2018 with few modifications discussed to us verbally. Today I received an email regarding the modifications made by the creditors and thats fine as changes did not affect the amount we are due to pah each month. Just a question, I have noticed the figures of our debts are different now(accumulated interest and not paying since we started processing IVA)compared the one on the proposal and approved.
Are all the current debts value will be covered by IVA? Or do I need to tell my IP about it. Before signing and sending back the modified version? Thanks!
Nothing to worry about! All debts will be covered but a quick chat with your IP will put your mind at rest.
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
There is often a difference here -- the proposal is v=baswed upon the debt as you knew it at the time ... creditors will them add charges and interest accrued between that time and the start of the IVA. It rarely makes a difference in the long run.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
