.....western front
(title not bar not long enough fo my wildly extravagant titles!)
Hi All,
I sent my IP the letter about their charges on Monday and the post has been this morning and still no reply. I am assuming this is a good sign as if they thought there was nothing wrong with their fees (maybe they DO live in cloud cuckoo land)then I would have expected a quick rebuttal.
I did as Melanie suggested after making my case and said that I would give them a few days to respond before sending the case to the ombudsman. But nothing yet.
I proposed to them the following :-
"I am prepared to settle this matter amicably as I accept that your costs did go up and I suggest we meet somewhere in the middle. I am sure it would be better to sort this out between ourselves rather than go through a lengthy and probably costly investigation of your fees.
Your original estimate was for £1,000/year running costs, and having looked at current prices for IVA’s I can see that costs are running at approximately £600 - £1500 per year depending on the complexity of the IVA.
My IVA is not complex, but if we took the upper figure x 5 (the proper term of my IVA) that would be £7,500, plus the nominees fee of £1500, plus £4,000 to cover any extra work, that would come to £13,000 some £6,500 less than your current charges, but also £6,500 above that which you originally estimated. (based pro rata on your original £3,200 estimate).
This would wipe out any further liability to myself and should result in a 75p/£ payout for my creditors, and reimburse yourselves for the extra work you have had to do.
I have been advised that this a very fair offer and that I should pass onto the ombudsman the details of this letter in advance of any investigation request.
I will wait a few days to give you chance to respond however before I do so."
I am hoping they are seriously considering this as I thought I was being a bit too generous to be honest with you, but I would settle for an end to this nightmare now, but if they try and argue against it I might drop my offer and just send everything to ombudsman.
Chris.
