www.iva.co.uk

Hi, Looking for some advice...

Just received my letter from IVA advice Bureau and under fees it says.... the fee for acting as a nominee will not exceed £2500 plus VAT. I am in a panic and cant get hold of anyone as it is after hours. Does anyone know what this means??? Will I need to pay a fee for using this company??? If you have used this company, please let me know your thoughts on the above.

Thanks

It is nothing to worry about. All IVA's have fees and are included in the amount you will be paying each month based on affordability. All it is saying is that is what the maximum will be and is of more interest to your creditors as they will be getting what you pay in over the term of your iva less the fees. Really is nothing at all to worry about. You are in safe hands and I am sure Melanie will confirm for you.

Hi Crow
Not an expert but usually the fees are taken from the monthly payment not up front. Your creditors agree to this at the meeting

Hopfully someone more experienced will be along soon to confirm
x

my husband is with Melanie - you have nothing at all to concern yourself about and what is more to the point you are with the best IP in the profession.J

is £2,500 + Vat a standard amount I am sure mine was not to exceed £1,500 + Vat?

Thanks to both of you....I will confirm with them tomorrow. I saw the letter and thought my debt problems were about to get worse.

Anyway, Thanks again. A huge relieve..

What I did not mention was the fact that my husband's IVA was not only difficult but one off - several coys said he would not get an IVA. Melanie got it through on first attempt togther with a sensible budget. You will be fine with her - she cannot be beaten.J

Not sure my letter just says....Not exceed £2500 plus VAT.

ELV5 - I would be concerned if my husband was with another woman LOL

£2,500 seems a bit high I have just checked mine at is only £1,500 + VAT for the nominee fees.

Don't worry, you're in safe hands with Melanie and her team. As the others have said the fees will be taken from your monthly payments and you won't have to pay them up front.

Good luck and let us know how you get on x

if the nominee fees are higher does this then not mean that the creditors get a lower dividend overall?

I think a lot of companies say you might not get an iva but a lot will say you can. I think the best company for one person isn't necesarily the best for another. Our company Cleardebt have been excellent and done us a very good service and their fees are quite low. other companies are good and its up to the individual to choose theirs based on their circumstances.

They did not say might not - they said would not - Melanie Giles proved them totally wrong.J

different IP's will be able to offer different solutions and it really is a case of who can provide the best service for the individual case. I would be very doubtful that one IP could offer everybody the best solution everytime.

Just checked my IP fees and they are £3000
So maybe £2500 not that bad[;)]