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Posted: Sat Sep 17, 2011 5:35 pm
by greybabypink
I had a car on finance that was included in my IVA but i have recently received a statement from the finance company and they are still adding interest charges is this normal? will they still be chasing me for the outstanding balance after the IVA finishes in November this year?
Posted: Sat Sep 17, 2011 5:54 pm
by kallis3
Hi and welcome.
If this was included in the IVA then they cannot add interest at all.
Speak to your IP company and tell them about this statement. They will sort things out for you.
Posted: Sat Sep 17, 2011 7:46 pm
by Foggy
They can add what they like on their statements, but won't get more than the initially confirmed debt ( as listed in the Chairman's Report ). They will not be able to chase you for the difference.
Posted: Sun Sep 18, 2011 1:22 am
by MelanieGiles
I am assuming that this was an unsecured loan rather than HP?
Posted: Sun Sep 18, 2011 10:38 am
by greybabypink
Thanks for the replies, Hi Melanie I was told by my IP at the start of my IVA that it was not HP which is why it had to be included in in the IVA.