Hi, I know how the IVA works but i wanted a bit more in depth knowledge as to how the supervisor fee and the nominee fee is calculated for the fees.(is it a % of the available contribution? etc) Could anyone kindly please shed some light on this? Any info is much appreciated
I don't know how they work it out but once your IVA is approved the creditors are obviously happy with the fees etc.
If you are looking into an IVA then I suggest you visit www.iva.com for a list of companies and reviews. Give one or two a ring for some free advice.
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
In my case it was a set amount, as agreed with the creditors for the nominees fees. These were to be collected from the first few payments. Thereafter it was 15% of the payments, again as agreed by the creditors.
To be honest, as long as the creditors are happy, then so am I.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
