We have just completed our IVA we have received the certificate of completion
We have paid in a total of nearly eighty thousand against a debt of fifty four thousand
This included PPI 's
So our creditors have received 93.2% in the pound
The total fees are nearly thirty thousand including PPI third party
Are these fees excessive please
The fees will have been agreed by the creditors at the time the meeting was held. You also would have been subject to statutory interest at 8%.
Well done on paying back as much as you have.
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
Around £15,000 of that would have been IP's nominee and supervisory fees, possibly more if the creditors agreed to it ( some firms apparently agree around 23%). PPI claims company usually get around 30% of the refund.
In any event the fees will have been at whatever level the creditors agreed.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
