Posted: Thu Jan 31, 2008 6:27 pm
What sort of fees have you guys been paying to your IP's as part of your IVA? Would be interested to know whay sort of money we are talking with different companies?
Fees vary depending upon the circumstances of the case, the IP firm you are using and the creditors own criteria. I would say that IP fees average at £2,000 for the nominee and £800 per year for supervision costs, but they can be much higher or lower depending upon circumstnaces.
The key thing for you is to ensure that your IP fully explains the basis of his/her charges both in the IVA proposal and your terms of engagement so that you understand how they will be charging and who is ultimately responsible for paying the fees.