Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Paul, I disagree with you. Creditors are more receptive to accepting IVA's where they know the fees are low or fair and get a better return (provided the IVA is the most appropriate solution). Low fees provided by some IP's allows a large number of indebted individuals to propose IVA's where their debts are as low as £15,000. ClearDebt has done a number of cases where the debts were as low as £11,000. Whilst the fees come out of the Pot for creditors, higher fees diminish the dividend prospects and can and do result in refusal sometimes. However I agree that a proposer has to be able to get on with an IP for 5 years BUT discussing problems with one or more IP's initially does not in my opinion give such individual a guarantee that he/she will be happy with the IP over the longer term.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
