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Born2Draft

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Post by Born2Draft » Sat Apr 04, 2009 10:34 am
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The creditors would have the option of reducing the fees when the meeting was held if they thought they were excessive, so provided the amount was acceptable to them the fees shouldn't be a problem.
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MelanieGiles

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Post by MelanieGiles » Sat Apr 04, 2009 3:35 pm
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If this is correctly presented, but showing what the poster's actual current disposable income is (if any) it will have a good chance of success.
Regards, Melanie Giles, Insolvency Practitioner
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David Mond

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Post by David Mond » Sat Apr 04, 2009 5:04 pm
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Creditors do have the final say but they cannot re-write what was originaly agreed in respect of fees approved at the outset.
Last edited by David Mond on Sat Apr 04, 2009 5:06 pm, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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MelanieGiles

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Post by MelanieGiles » Sat Apr 04, 2009 5:17 pm
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Why not David? Surely creditors can modify whatever they like at a newly convened creditors meeting?
Regards, Melanie Giles, Insolvency Practitioner
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David Mond

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Post by David Mond » Sat Apr 04, 2009 5:52 pm
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Well in theory I suppose yes (subject to my comments below) BUT then why don't creditors then modify all proposals in the final year agreeing to void all IP's fees and obtain them back?

Any modification reducing a fee that has been previously contracted for would fall foul of the "Unfair Terms of Contract Act" as the new modifications would be a new (revised) contract.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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MelanieGiles

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Post by MelanieGiles » Sun Apr 05, 2009 4:18 pm
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I guess because the majority of them do value what we do for our money, and a varied IVA is a new contract by the very nature of the variation.
Regards, Melanie Giles, Insolvency Practitioner
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chris5678

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Post by chris5678 » Sun Apr 05, 2009 7:04 pm
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how do you find your ip's email address?
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kallis3

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Post by kallis3 » Sun Apr 05, 2009 7:09 pm
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Click on this link and you should be able to find him:

http://www.insolvency-service.co.uk/newipsearch.htm
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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chris5678

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Post by chris5678 » Sun Apr 05, 2009 8:16 pm
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Have spoken to my parents they have said they will find the extra if my ip is wanting extra fees for himself hopefully these are not to much under 1k andf i think she will pay it.
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David Mond

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Post by David Mond » Mon Apr 06, 2009 4:51 am
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who is your IP or firm your case is with?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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chris5678

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Post by chris5678 » Mon Apr 06, 2009 9:37 am
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DFD
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chris5678

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Post by chris5678 » Mon Apr 06, 2009 9:41 am
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spoke to them the fees come out of the offer
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chris5678

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Post by chris5678 » Mon Apr 06, 2009 2:37 pm
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bump! How long do these fulland final settlements go on for im hoping its going to be over within a few months.
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David Mond

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Post by David Mond » Mon Apr 06, 2009 3:04 pm
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Maybe 2 to 3 weeks not months
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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its_john

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Post by its_john » Mon Apr 13, 2009 9:49 pm
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Chris,

Did you speak to DFD about a discount on the supervisory fee as the IVA did not last its full course ?

I'm interested as I'm a similar position with DFD.

John
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