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When will I get my money back once repaying creditors?
Posted: Wed Oct 06, 2021 4:42 pm
by susan489
The sale of my house completed on 29/9/21 and the balance from the sale, 65k, was received by them on 1/10. My debt is slightly under 30k do I have to wait until all my creditors are paid before I get any of my money?
Re: <t>When will I get my money back once repaying creditors?</t>
Posted: Wed Oct 06, 2021 6:30 pm
by Foggy
Your IP should be able to calculate the sum required to close the IVA and repay the balance almost immediately --- if, say, you were writing to them for a settlement figure they could provide that within a few days --- this is no different.
Re: <t>When will I get my money back once repaying creditors?</t>
Posted: Wed Oct 06, 2021 6:35 pm
by susan489
Thanks Foggy that’s what I thought but I’ve been told 3/6 months!!