Can anyone advise typical fees for an IVA ?

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Robdw4

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Post by Robdw4 » Thu May 19, 2016 10:11 am
Can anyone advise typical charges for an IVA.
I have requested an early settlement figure and have been advised what I feel are very high fees.
Thanks in advance.
 
 

Foggy

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Post by Foggy » Thu May 19, 2016 10:27 am
Supervisors fees will be as stated in the Proposal and are usually modified by creditors in the Chairman's Report -- often these days they are a percentage of funds paid into the IVA, typically 15% ( but some are in excess of 20%).

Nominees fees, again in the paperwork and agreed by creditors are typically in the region of £1750 - £2000.

Disbursements will be as the have been incurred.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

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Post by Lisa Thomas » Thu May 19, 2016 11:12 am
Have a look at your proposals and any modifications - they will have stipulated the fees.

Creditors approve the costs and they come out of the creditors pockets (unless you are paying everything off in full) so shouldn't really affect you in any event.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Shining

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Post by Shining » Thu May 19, 2016 1:46 pm
It's the one thing I never worried about as it was coming out of my IVA payment and they agreed it on the day of my meeting.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Thu May 19, 2016 1:57 pm
I was the same Lesley - the creditors agreed and I never gave it another thought.
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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