Can the ip charge you in excess of 10,000

[pitbull]

Hi , I am in an IVA, Can the ip charge you in excess of 10,000 in admin charges, and a further 1,200 for a variation of an iva.

[catullus]

It sounds very high but he can charge whatever he likes so long as it complies exactly with the terms of the proposal and any modifications that were accepted.

[MelanieGiles]

It would be at the higher level of most firm's fee spectrums, but not necessarily unreasonable. If the fees are based upon a time costs basis, then the fees relate to the number of hours worked multiplied by the member of staff's charge out rate for each particular task. If the fees were fixed, then as Catallus says you would have agreed these when you signed the proposal.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[pitbull]

Hi , Thanks for that.

Two more things. Does anyone know if Mc Cambridge & Duffy LLP have anything to do with Max Recovery LTD administered by Eversheds LLP.
All of my dept was sold to max recovery.???????

Also does anyone know if Emma Holmes MY IP accualy exsist, it is always PP emma holmes, I even wrote to her personaly by special delivery and she never answered at all.

Thanks in advance

pit

p.s with regard to first post the cost were first told to me when then court papers arrived to be signed and it was Sign or IVA will fail. £1200 for a variation ????????? Licence to print money. I nearly owe more to them than i do dept. Can you change IP companys.

[MelanieGiles]

I can assure you that Emma Holmes is completely real - she and I used to work together a long time ago! I suspect that you are getting pp'd letters, as McCambridge Duffy have grown into a large processing firm, and she cannot possibly deal with all of her clients personally.

McCambridge Duffy are not linked to Max Recovery, who are a firm of debt purchasers.

If you have not yet agreed to enter into an IVA, there is nothing to stop you changing providers. The basis of the IP's fees should have been discussed with you from the outset - surely they have sent you an engagement letter which you were asked to sign as part of your agreement?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk