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Posted: Sat Sep 27, 2008 1:39 pm
by charliesbird
If an IVA is rejected on the basis that we have an inadequate amount of disposable income (pence in the pound)would this still incur fees from the IP, therefore increasing our debt?
Posted: Sat Sep 27, 2008 2:09 pm
by Julie
Hi there,
As far as I'm aware you do not pay the IP anything if the IVA is rejected. xx
Posted: Sat Sep 27, 2008 4:45 pm
by LoneRanger
What about the ones you pay upfront? Some will probably give it you back but i bet there is a huge percentage who wont and claim it as a fee for setting the process up.
Posted: Sat Sep 27, 2008 4:50 pm
by MelanieGiles
It depends upon the type of contract you have with the IP. Most reputable firms will not take money from you up front, or until the time of the meeting where perhaps one payment is taken as a gesture of commitment to the IVA, but this should usually be returned in the event that the IVA does not proceed.