www.iva.co.uk

Hi everyone can someone help me, just got a statement from our IVA company, what is Office holder's expenses and cost of the arrangements payments for? Hope someone can help me with this its a very large amount of money that's been paid out to them xxx

Sorry for them and have no idea what this is for

I assume its all running/setup costs.

Paul

I hope to god not its very large set of money I've paid for nominees fee and supervisor fee or all the 4 I've paid 12013.52 plus then the distributions + vat on top I'm hoping I've not paid 12013.52 in fees, that can't be right pls somebody HELP xxx

This seems quite a generous fee but it must have been listed on the proposal and agreed with creditors at the time the IVA was approved. Your case must be quite complicated because it is unusual to get such a fee unless you are self employed or paying in substantial sums.

I'm so confused to why we have paid this much it doesn't say anything on my paperwork about office holders expenses or cost of arrangement, it says nominees fees and supervisors fees that's all and that's £5000, but need some help on when I ring them up and ? It and sound like I know what I'm on about, I've also paid 1524.14 in VAT it feels so wrong we got a ppi payment and was only £2000 left to pay and would have payed every penny back but not now I've paid that much in fees we not xxxx

I personally would ring them and ask them politely to explain what these fees were as they aren't included in your proposal that you can see?

In on the phone waiting to speak to someone but guess what I'm on hold will let you know how I get on xxx

She couldn't give me any idea on why I've paid this and her supervisor will ring me tomorrow will see what happens how can you pay 14000 on fees just looked at my letter and it stats 5467 in fees all together, so why have i payed 8500 on top x

How much has gone to creditors? What company are you with?

Paul

Your IP should be able to explain this to you as it seems odd that the fees have increased so much. Perhaps it is a mistake as I find it hard to believe that creditors would sanction such an increase.

How much has gone to creditors? What company are you with?

Paul

We have paid 19,211,17 in to the pot over 4yrs 11th may, our debs in total is just over 17000, on the statement it says, nominees fees £939.17, supervisor fee £2726.77, office holders expenses £3740.41, cost of the arrangment £4607.37, distributions £4876.13, VAT £1524.15, bank charge £12.72 that's a total of 18460.59.

There is something odd in the "cost of arrangement" figure of £4,607. This is far too much to represent the normal costs incurred by an IP, and I wonder if fees payable to a claims management company relating to your PPI reclaims has something to do with this. Either way query this with your IP, as you have a right to know how these costs have been incurred.

Hi Slapnutts2001 just out of interest what company are you with ?