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Hi,

I am still waiting for a firm figure for f&f from my IP, however they gave me an idea of this back in July and I have just found the letter.

I need to be offering 0.40p, but it looks like the max my mother could afford is more around 0.35p. Though the IP has his fees to April next year so perhaps he can reduce them so to raise the offer a bit. In addition the IP shows a disbursement of £500, but what is this for? If this wasn't included I have calculated around 0.39p in the pound.

If I can not get the IP to lower his fees or raise another fee hundred pounds do you reckon 0.35p would be accepted at the very least? - I have posted here before to say that Max recovery now owns most of my debt so they might agree to this seeing as they must have bought my debt on the cheap? I'm hoping that we can get up to 0.40p though so at least then I will know they're more likely to accept my mothers offer.

Thanks

The IP is entitled to charge those fees Aaron, as he will have quite a lot of work to do in proposing your variation and then closing the case - but anything is worth a try. The £500 relates to all disbursements relating to the case - cost of registration, bordereau, room hire, printing postage and stationery or any travel costs he has incurred. it seems a reasonable sum to me, and would have been one that you agreed to when you signed the proposal.

I would certainly try the lower offer if I were you - and don't forget it is your application for variation and not the IP's so insist it is put forward if you think that you are making a fair offer for the right reasons.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

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http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Thanks Melanie. I understand the £500 fee now. I have emailed my IP now to ask them to re-work the figures as if I was paying now rather than in April 08 so I guess the fees would be less now anyway becuase he wouldn't have to charge all his annual fee. I have asked them the same sort of question to see what might be a good offer and see what they say and what is afforable.

Thanks very much