Are the fees fixed for the full term?

[OPTIMIST12]

Having got safely through my first twelve payments I am eagerly awaiting the results of my first Annual Review and receiving a copy of the report to Creditors that I believe is produced at this time. I am hoping that this will give me the outstanding balances from the late claimers amongst my Creditors and that - once I have all these figures - I will then be able to calculate the exact amount required to reach my "Minimum Dividend" requirement - (as stipulated in one of the Modifications to my proposal).

My IVA fees were set out in the proposal on a fixed basis -i.e. £X Nominees Fee, £X per annum Supervisors Fee, + VAT + Disbursements. I realise that the Disbursements will be impossible to fix in advance - but am hoping that the other elements will be "set in stone" to avoid upsetting my Minimum Dividend sums.

I am just getting a bit worried with all the current developments in the IVA industry (companies being taken over and the changes in the way fees are now calculated a la "Protocol") - are there ANY circumstances whereby my fixed fees / costs (disbursements excepted) could be varied in any way?

If for example Company A acquires the "book" of Company B are they allowed to change pre-agreed - and signed - fee arrangements? Alternatively - is it possible that any future "Protocol" agreed could ever provide for retrospective amendments to existing arrangements?

I am sure I am being paranoid in the extreme but an IVA gives you a lot of time to think / worry about things (!) and was wondering if anyone had any thoughts on this?

[MelanieGiles]

The only way that your fees can be varied is by the express resolution of creditor at a meeting convened for such purpose, if they are fixed within the terms of the IVA proposal and Chairman's Report.

The IVA protocol only applies to cases which are proposed in accordance with the protocol from 1 February 2008 onwards.