www.iva.co.uk

Hi, we have offered a full & final settlement payments of £1200. We have paid 51 out of 60 payments already however now the paperwork has come through from Harrington Brooks, they have added £500 charge for the variation and £430 as an early settlement fee. It may sound daft but will this addition £930 be on top of the £1200 we have offered. The reason doing this is because my wife has returned from maternity leave and is earning far less even after we have recalculated our payments. If we have to pay an additional amount we won't be able to as this settlement figure is a gift.

Normally there is a charge for the variation meeting -- around £500. Early settlement fee is, to say the least, b***** cheeky !

Again, usually, these fees come out of the IVA "pot", effectively reducing the value of the offer --- but with HB ... who knows?

An early settlement fee is normally associated with a financial contract.

Ask them where they publish their fees and why this is being applied plus does it have the agreement of creditors.

It should come out of the creditors pot. Not heard of early settlement fee before - new one on me.

I would certainly be querying it, although as already stated it is a cost to the case and not to you directly. Would be interesting to see if such a cost were listed in your proposal.

If your creditors accept the F&F then you have the result you are looking for, which is probably the main thing for you here.

Regards.

Might be worth querying the amounts if you're not satisfied with them. Good luck with the F&F.