Once more a grumpy rant over GT and PPI

[MelanieGiles]

Perhaps if creditors paid us a fair price for the work that we do, there would be no need for some firms to look at other revenue earning opportunities.

[nickjohn]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

Perhaps if creditors paid us a fair price for the work that we do, there would be no need for some firms to look at other revenue earning opportunities.

I guess if the IP's concerned were just open and honest about the transactions then people would not feel aggrieved.. We are always being told that everything is done to maximise the return for the creditors but this is hard to accept when such large sums are being taken in additional fees.. Personally my basic fees are £18,000 over 6 years so I do not feel my IP is being short changed in any way......

[MelanieGiles]

Those are indeed very high fees to be charging for an IVA.

[Pandy]

On the question of fee's (I dont mind how much they have as long as it's proportionate) Hubby and I have just received my 3rd year review report and find it quite strange that even after 3 years of payments we have still not paid a penny to our creditors so GT have taken 100% in fees and admin charges.
So if hypothetically(god forbid) anything happened to our income and we ended up going back to the creditors for a variation to ask them to accept payments made to date and close the IVA we would have paid for 3 years + and they got nothing, cant see them agreeing to that.

[nickjohn]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

Those are indeed very high fees to be charging for an IVA.

The fees would have been higher if GT had their way, it was the creditors who limited it to £18,000... Personally I don't understand how my iva will have substantially more work involved than that of someone being charged say £3,000 in fees..

[nickjohn]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Peejayel

On the question of fee's (I dont mind how much they have as long as it's proportionate) Hubby and I have just received my 3rd year review report and find it quite strange that even after 3 years of payments we have still not paid a penny to our creditors so GT have taken 100% in fees and admin charges.
So if hypothetically(god forbid) anything happened to our income and we ended up going back to the creditors for a variation to ask them to accept payments made to date and close the IVA we would have paid for 3 years + and they got nothing, cant see them agreeing to that.

All our debts have been sold on and we got an annual statement off one of the companies who bought a debt and it showed they had received £72 for the year.. We paid some £11,000 over in the same period.. Does make you wonder where all this money goes to....