IVA fees

[elizabethr]

Can someone explain how this works please. Does the IP get paid out of the amount arrived at available to pay to creditors. I was told once that you have to have at least 200 a month left to be able to to an IVA but does the IP money also come out of that or do you actually have to be able to afford the IP fees as well? Help!!!

[Lisa2009]

The fees will come out of what you agree to pay into your IVA so basically the fees will be paid by your creditors. You will not be expected to pay that on top.

mrs skint

[size5]

I have arranged IVA's for less than £200, those that have that sort of minimum payments would like as not be higher fee IP's. Each case should be judged on its merits alone, not what your IP needs to make a profit.

[MelanieGiles]

Size

It is not the profit factor that motivates the majority of IPs top refuse to act in lower end cases, but the higher incidence of failure for debtors who can only afford contributions of less than £200 per month.

I know that the principal of the company you work for advocates that he can make lower end cases work, and I have referred a number of clients to him in the past where they really felt that they wanted to try an IVA. There is a place in the market for all of us, but my own experience tells me that low contribution cases are more likely to fail.