i entered into an IVA in JAN 07 and i requested a letter of all my payments recieved and how much i owed.
on recieving the letter i was disgusted on the amount of fees an extra £8,000 of debt in fee's.
surely this cant be right?? i thought an IVA was to aid you in getting out of debt so you could start again not set you back with these sort of charges.
I think that you may be confusing the amount to be paid to the IP - which surely must have been discussed with you and agreed before the IVA was proposed - with the amount you owe to your creditors.
When you instruct professionals to act for you, it must be fair to expect that they will be paid for their services, and the amount you have quoted for a five year IVA (assuming that yours is to run over such duration) does not look unreasonable - especially when it is likely to be paid by your creditors out of the contributions you make into the arrangement.
Hi
You owe the total original debts plus IP fees,less any dividends paid out,right upto the conclusion of your IVA.It is only at that point that any unpaid debt is legally written off
Regards
