What should I expect to pay an IP for putting together a final settlement iva . I can't make repayments to an iva as my income is less than outgoings but I do however have an amazing dad who would be prepared to help just pay the debt off then when on my feet pay him back . I owe roughly 45k and the advisor I have been speaking to thinks I could have a FS iva accepted with an offer of 12k . What I don't understand though is where the 12k figure has come from or 3k nominee fee ??? what fees I should be expected to pay for them aranying this . They say 3k is about the going fee but I haven't got a clue .
The fees will be taken out of the IVA pot so don't worry about that.
As regards the amount, how much do you pay into the IVA and how long do you have left.
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
Nominee fees come out of the regular payments you make and should not really be your concern. £3k is on the high side though.
Anyway, a full and final offer ( avoid the term "settlement" as that is a different, more expensive, animal) should be based on the monthly payment multiplied by the number of months left. It can be reduced slightly, depending upon the circumstances and length of time (so, admin costs)this saves.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
