Hello my iva has been paid off in full my supervisor has now informed me of extra costs to cover his time.
£6000 pounds was his original fee it's now gone to £15000 he's going to give me a 50 percent of the amount and wants £4800 can he do this ?
NO. He can only charge what was agreed in the arrangement by the creditors, which should have already been garnered from your payments. You agreed to pay a set number of installments at an agreed amount.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
as foggy said no, the creditors not only agreed to your debts being in an IVA but also agreed to the set fees as detailed by the IP, if the IP is changing the fees dramatically they are taking the piss.
I would personally be inclined to get that in writing and forward it directly to the creditors listed in your creditors report to
a) have the IP kicked hard in the arse and
b) I would let the company chairman /ceo know you will be doing this.
complain straight to the regulators and tell them you're doing this, BUT GET IT IN WRITING FIRST.
Watch them go into reverse so fast it wil be unbelievable !!
Which company is it and the name of the IP - name an shame them !
Last edited by longslog101 on Tue Aug 18, 2015 12:49 am, edited 1 time in total.
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
Thanks for the info
Bit more information I had a ppi claim which paid off the IVA in full 100p in the pound.
The ppi claim left a large amount of surplus in the account because of this he wants extra money.
If I don't agree he will charge full amount not the 4800.
They have said they don't usually charge but as I've got surplus they are going to.
Any advice welcomed Andy
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Andrewdg27
Thanks for the info
Bit more information I had a ppi claim which paid off the IVA in full 100p in the pound.
The ppi claim left a large amount of surplus in the account because of this he wants extra money.
If I don't agree he will charge full amount not the 4800.
They have said they don't usually charge but as I've got surplus they are going to.
Any advice welcomed Andy
I would drop them a mail and asking for breakdown in the new costs and the justification within 7 working days so you can pass this to your legal representatives. then share that response with us here (with personal details removed) and people will be better placed to offer more information It all sounds very dodgy to me, even if it was statutory interest, that should be going to the creditors not them.
which firm is it ?
whatever you do, don't fall for the pay it quick and you will get a discount, you may find nothing is due to them and you are entitled to the entire extra above the value of the IVA that has been claimed via PPI.
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
It does depend what was agreed. It may be that his costs were on a time spent basis and the original £6k was just an estimate. Look at your proposals/mods/variations carefully as to what his cost basis was first, then consider challenging.
