www.iva.co.uk

Hello I'm so confused!!!-please help?
I've been in an iva for just over a year now, i currently have £9200 left to pay. I'm with Grant Thorton (originally from debtmatters).
My mum wants to help me out so i was thinking of making a f + f offer....
I spoke to Grant Thorton today to get some kind advice with regards to their fees and the amount i should offer etc.
I was quite shocked to be told that they take 25% of the original amount i owe as fees and also in every £1 i pay approx 30p goes to the creditors. (she couldn't tell me if 30p was exact as she didn't have the information!)
Is this a normal figure with regards to fees, it just seems the creditors are not getting much at all.
So how would i work out what to offer.
She also said to me that they will also take 25% of whatever i offer too.
My mum can only manage to scrape together £5000-5500, but this isn't going to be enough is it?? please help...

Perhaps look at what you would have paid them over the duration of the IVA based on the original pence in the pound and ask your IP to put that forward, they can only say no I guess.

make sure they understand though the money will only be paid as part of a f & f

Have a look on your proposal, it should tell you the ammount in £s for fees per year. Work out the ammount left to pay in monthly contributions if your IVA were to run for the 5 years and deduct the remaining years fees off it.

Have you told your IP how much your mum has offered? It may be worth doing so just to see how the land lies.