Folks, I seem to have stirred up a bees nest here. The facxt is that I signed the paperwork and that syas they have the open cheque book thingy. Therefore they have the right to charge what they have, that's life. The best way I can see forward is a full and final settlement. That will stop the fees...

Also folks, this question doesnt seem to have produced a response yet "One question that has just entered my head is about the "Windfall Claus". If I bought a scratch card and won £25,000, I would have to give about £12,500 to my IP, that's the rules and they seem fair. Co-incidentally, that is the ...

Good Afternoon Folks, I'm starting to get a little upset about my IP, they were my best friend when I was looking to set up the IVA but it's now starting to look like they stacked the proposal with ways to get rich quick out of my situation. And from what others have said, I'm not alone, is this rea...

Melanie, I'm with Payplan, I started with Shaws but they apparently changed their name to Payplan not too long ago. I'm a little worried because in the year that I incurred £2044.94 in charges I dont remember having many dealings with them and recently I've exchanged 5 or 6 emails with them, have I ...

Melanie, yes, it is a time cost thingy, does that mean they charged me each time they send me a letter, email, phone call, text message etc? The figure of £12,500 came from looking at what I was charged last year (approx £2.500) and multiplying by 5. I'll mention to my IP about the fees and see if i...

Melanie, Wish I'd met you 3 years ago, and set up an IVA through you. These are the facts and figures: Paragraph 3.4 The nominee is to receive £1,600 (plus VAT) plus reasonable expenses expected to be £130. In my latest statement, it says Nominee fees £1,800 paid in the first year. Paragraph 3.5 The...

Davina, It does seem a little unfair, but I have always said that I would repay my debts if I could, I borrowed the money, I owe the money, I should repay the money. But I feel that paying interest and the IP fees is a little unfair, I have to pay more just because I've done well and earned myself s...

Thank you for the replies, an expert view is what I wanted. So from what I've found in my IVA statement from last year, I am responsible for:

Original Debt: £24,000
IP Fees: £12,500 (5 x £2,500)
Interest: £11,000 (I think I worked it out right at 8%)

Total: £47,500.

Is that right?

Thank you for your response. As far as I'm aware, I'm not responsible for the IP fees, that cost is paid by the creditors. Again, as far as I'm aware, my creditors froze the interest on my debts, so as far as I can see, all I need to pay is the original debt. If someone with experience can tell me o...

I am currently in an IVA and have realised that because of wage increases, my current monthly payments will total more than my original debt. Since the IVA company fees are not added onto this debt, surely the maximum I should pay is the total original debt. So, is the most I will pay 100% of the or...