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Sean.79
- Posts: 2
- Joined: Thu Sep 17, 2015 9:21 pm
I have been in an IVA since May 2014 and today have received a credit/claims summary report. This is due to a break in IVA due to my wife being on Maternity pay. The three columns on the report show S of A, Claim? and Agreed Claim. The 3 figures significantly lower. The S of A figure is £69000 and the agreed claim figure is £7000. What doea this mean? Is the £7000 figure all we owe on the IVA.
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luluj
Forum Expert
- Posts: 11333
- Joined: Sun Dec 09, 2007 6:54 am
- Location: United Kingdom
Welcome to the forum. During your iva you will always owe the full amount of the original debt plus ip fees and possible statutory interest.
The iva agreement will show what the minimum pence in the £ should realise during its term.
The creditors have to submit their 'claims' during the term of your iva ..some do this immediately whilst others wait till the end. Your IP will chase them to make their claims especially towards the end when closure action is pending. I am guessing your original debt was £69k with a current claim from creditors of £7k.
Hope this helps.
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