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Posted: Thu Mar 13, 2008 2:17 pm
by no money eva
Just had the breakdown through of everything my meeting is on the 3rd April. The fees are 5,399.99:-
Nominee fee: 1974.99
Supervisor fee: 2025.00
VAT: 700.00
Out of pocket ex:570.00
Cost of meeting: 130.00
Would creditors see this as excessive.
Most grateful for your advice yet again. Thanks.
Posted: Thu Mar 13, 2008 4:10 pm
by Oliver
I would say that £5.5k is a fairly standard industry figure.
Posted: Thu Mar 13, 2008 8:35 pm
by emma_t
Hi no money eva
I did not even look at my IP's fees as I knew if they were deemed exesive by creditors they would bring up at meeting and modify.
A good service and confidence in my IP was really important to me and I got that so did not even look at fees.
There are so many things to worry about in the iva process, but I don't think fees is one of them things.
Ask you IP if you are really concerned[:)]
Posted: Thu Mar 13, 2008 8:45 pm
by aguise
Our fees for the two of us were about £9500 so they seem ok. I tend to agree with emma , it wasnt really an issue I was so worried about approval. The creditors will say if they arent happy with them and I have seen several posts where companies have adjusted to get approval. try no to worry.
Ang
Posted: Thu Mar 13, 2008 9:20 pm
by vickir
At my meeting, the creditors said the fees were too high - that was the only amendment and my IP just reduced them - got to be honest - i didnt even think about fees - was more concerned about my offer being accepted
Posted: Thu Mar 13, 2008 9:20 pm
by MelanieGiles
Those fees are in line with current market conditions, but I bet your IP will struggle to do all of the work which is necessary within such a tight budget. Many firms are going out of business at the moment due to this unfair fee pressure, which in turn will damage the credibility of the IVA as a debt solution.
Posted: Thu Mar 13, 2008 9:38 pm
by no money eva
Thanks for your replies.
My IVA is with Payplan and they have been fantastic up to now, very prompt in answering emails and with phone calls, paperwork etc.
Yes there is so much to worry about with an IVA! I keep trying not to think about it but nothing seems to work.
Thanks again
Posted: Thu Mar 13, 2008 9:47 pm
by emma_t
Good luck no money eva.
On the plus side I am so grateful for my iva as I rally could not see anyway out of the trouble I was in.
My iva was accpeted in November 07 and I have never been happier - its not an easy thing to go through but it is so worth it in the end.
Stay intouch with the forum for suppot and advice as this really helps
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