A while ago I posted about GT fees and wrote a complaints letter. GT was amazing and explained that my previous IP withdrew the fees and according to their calculation overbilled the Supervisor fee by £1,953.10.
How? My IVA proposal outlines the Supervisor fee should have been... "As per the proposal, the fee was capped at £1,200 per annum. This works out at £6,600, allowing 5 years for payments and 6 months for closure". The fee drawn was £8553.10 (not including Nominee’s fees and VAT).
I went to complain to my previous IVA IP but found out the company went into administration but there was a link and contact number to another company and sent an enquiry and complaints there.
Today, I received a letter that states the above information in regards of fees in the IVA proposal but then goes on to say….
“As I understand it, during the IVA and in breach of your requirement to do so under its terms, you failed to notify Ms ???? that you had received a PPI payment of over £????. You were subsequently required to repay that money into the IVA. Ms ???? and her staff incurred additional time costs as a consequence which contributed to the increase in her Supervisors fee”.
Yes, I did receive some PPI and misunderstood the terminology of ‘windfall’ (piece of unexpected good fortune) – I knew I was owed PPI and when received did spend some e.g. to pay the solicitor bill who was investigating the PPI and rest on other needed items. However, I did inform my IP who then corrected me and we made arrangements to pay this money back. However, the above statement says ‘you failed to notify’ this sounds like I did not say anything at all. Any way all I want to know is – is this correct “staff incurred additional time costs as a consequence which contributed to the increase in her Supervisors fee” and charge me £1,953.10.
Thank you
If the fee was capped at £1200 p.a then that is the max they can charge regardless of the time and effort spent. Check the Chairman's Report as it is here that fees are thrashed out between IP and creditors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
You can challenge the fee -- however, if there is any refund it will go to your creditors. You have made your contractual payments and the fees were deducted from these. If they have been deducted incorrectly it will be up to the creditors to complain, if they feel so moved.
The bottom line, the way I feel about it anyway, is that you get your completion certificate and put the IVA behind you.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
