The initial fee requested by my IVA provider on the contract i signed with my IP was for £2937.50.
After being in my IVA for 2 years I have so far paid £5000 pounds in contributions. The amount claimed by my creditors at the meeting of creditors was £3239.88.
If my IVA were to fail now or I were to pull out of the agreement would I owe my IP any money in fees as I have already paid over the fees they requested in the contract?
It would appear that the fees you were quoted might just relate to the Nominee's fee, so if the IVA were to fail at this stage there might be a claim for any outstanding supervisory fees against you, but I doubt that most IPs would proceed to try and collect this from you.
Did you sign a specific letter that you are bound to pay all nominee fees and supervisory fees if your IVA fails?
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.
