Hi
We are in a joint Iva and our original total debt was £56000 and our proposal states we will pay £552 for 72 months paying back a total of £39744.Now I understand that there are IP fees to pay as well but I cant work out based on the above figures how we are only paying 33p in the pound can anyone help?
To be only paying 33p in the £ would mean that your IP fees are in the region of £21,000 which cannot be right! Are you sure that the 33p is correct - and if so how much are the IP fees you agreed to pay in the proposal?
Hi
Thank you very much for replying to me Truthfully I only have the original proposal where we would pay £497 and would be paying 32%
but the creditors made a change requesting an extra £55 and extended it for another 12 months If it is a joint Iva does it mean we are paying 32% each maybe? Oh and the fees are nominees £3000 other fees and disbursements £1777 Supervisors fees £7151 this shows on mine and my husbands proposals.Also should I have been given a copy of the adjusted proposal?
Hi Melanie
I think I have just worked it out the original proposal was for 60 months and this is now 72 so I have worked out that the amount we are paying is 50p in the pound.
So the total actual amount of debt was £55626
fees total £11928
which would mean we would pay back 50%
does this sound better?
The fees look very high, but the return of 50p is a good one. I do not understand what the figure of £1,777 for other fees and disbursements could be, and you should query this with your IP.
