www.iva.co.uk

So hubby had full and final accepted today! Hurray!!

However, I am a little unsure of the figures. We made an offer of £6500 with any further payments to be deducted at the end. Offer was made in august with 2 more payments made, however IP is saying they will only deduct one as they didn't put the proposal together until after the first payment.

There were also meant to be nearly £1000 worth of fees for the privilege of all this though they have waived all but £300.

Should we just accept what is and move on or fight that other months money? Its £380 so not to be sniffed at.

They did send an email when we made the offer to say keep making payments and if accepted these payments will be deducted. The fact that it took 6 weeks to draft the proposal isn't our fault.

I am glad we are nearly at the end so I am not sure whether to just leave it be?

Congratulations!

If you're not sure about the figures (can't help you much there I'm afraid) then query them.

I would certainly be looking to hold back the £380 unless there were modifications proposed by creditors that made a difference. If your IP is slow that is not your problem so speak to him/her directly.

Six weeks to draft a variation is way too long and you should not be made to pay for the delay.

Hopefully your offer was worded so that the deduction of payments was to be taken into account as operating from the time you made the offer, not the time they got around to drafting the variation.

If so, in principle, I agree with Michael. However, looking at it from the IP's point of view (being the big kid I am) I would simply offset this by not waiving the bulk of the fee.

Thanks for all your responses.

Offer was worded as:
'Any payment made in the meantime whilst the variation is being prepared, called and held are to be deducted from the lump sum.'

And in their initial response they said:
'Please continue to make contributions during this period.
Should the offer be accepted this amount will then be deducted when funds are requested.'

Part of me feels I should just leave it now, but they have been so unhelpful the whole way through I don't want to! There were no modifications, all accepted. IVA was set up for creditors to receive 11p to the £, they have now received 42p to the £.

Thanks

Sounds to me that you should get this money back!

I agree - it's not your fault another payment was made in the meantime (which is exactly why we recommend this clause!) Stick to your guns and remind them of the content of the offer.

Your wording clearly states "whilst the variation is being prepared" -- so, on these grounds alone the payment should be yours.

However, loathe as I am to suggest that any IP would be this petty, you still have to await the issue of the completion certificate !