IP fees

[size5]

Oh dear, I am not very good today, pressed the wrong button by mistake!!
To finish the previous post, our fees would be in the region of £2100.

[chris2202]

My Nominee fee was £2,500, with Supervisor fee at £5,700 and disburesments at £450. Does this sound excessive?

[abc]

I am amazed how someone can quote fees without all the facts! I never quote until I have all the information, like number of creditors, will an interim order be necessary and the full facts on the property, who owns it any charging orders or secured creditors copy of last valaution etc etc

[abc]

Unless you are paying creditors 100p/£, then it is your creditors that are effectively paying the fees. I think it is more important that you get the right insolvency practitioner and one that will see you face to face so all your questions/concerns can be answered. An IVA is not something you should enter into lighytly as it requires a big committment from you.

[ianmillington]

Good afternoon, Mr Coleman!

Back to topic:

So long as you are able to demonstrate that following the remortgage you won't be able to make any contributions, then there is a reasonable prospect of getting the thing through.

The IVA proposal must show the dividend to creditors after costs.

Note that the quote received is "about" £3k. Is the devil in the detail?

If the raw price was the most important thing in life, everyone would be driving Peroduas. Let's look at this:- For every £500 increase in fees, you impact upon the dividend by 0.55%. Interestingly everyone seems to simply accept an additional sum payable (in excess of the fees of the person providing the solution)to the mortgage lender for simply accepting repayment of the mortgage!

As a consequence I would say that you should look at the overall service level rather than just how much the IP wishes to charge.

Size 5: I assume you work for David Mond, whom I was chatting to yesterday? Give him my regards[:)]

[size5]

Ian, you are a genius and I

[size5]

D'oh!! Done it again. Think I should go home now, bad day all round.

To finish off, you are correct and I will indeed pass on your best wishes.
Bit of bad news today, Lawrence has sadly passed away.

[ianmillington]

I assume he has been ill for a little while, as I heard that all his cases were transferred to David some time ago.

Condolences to you all.

ian

[size5]

Yes, that is correct.

Thank you for your kind thoughts.