IVA settled - overpaid?

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Tx1pete

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Post by Tx1pete » Wed Oct 10, 2018 12:35 pm
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I settled my IVA early a couple of years ago and I noticed I have paid back more than I owed (101.93%) The 1.93% amounts to about £1200 ,
What’s happened to this overpayment?
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Foggy

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Post by Foggy » Wed Oct 10, 2018 12:41 pm
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You actually owe, during an IVA, the full original debt, plus fees and statutory interest ... NOT just the agreed payments. Only at the end is anything written off.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Lisa Thomas

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Post by Lisa Thomas » Wed Oct 10, 2018 1:34 pm
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Did you look at the final receipts & payments account?

This will show you where the money went - the difference is probably in costs and/or interest.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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Tashie08

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Post by Tashie08 » Wed Oct 10, 2018 8:06 pm
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I overpaid on mine and wouldn’t of known, found money that had been paid in to my account, when I checked it had come from the Iva company. I rung them to query it and was told it was not an error. Happy days
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