IVA

[ian]

Please can someone tell me, do i have to pay IP's upfront for IVS's or does it come out of the agreed monthly payments?

Thanks.

Ian

[Oliver]

IP fees are paid out of the monthly amount you put towards your IVA. This is your Disposable income which is made up of your total income less all your reasonable living costs.



Best Regards
Oliver

Thomas Charles Ltd, A medium sized debt solutions provider based in London.
Read customer feedback at: www.thomascharles.com/about_us.asp

[MelanieGiles]

Hi Ian

It really depends on what you agree with your actual IP. Oliver has highlighted the usual way our fees are paid, but you may find an IP who will charge you up front for the work. I suggest that you avoid these firms, as an IP worth their onions will not take work on which they know there is a risk of not getting paid for. So if they are prepared to run your case there is a good chance of acceptance on the day.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Huggy]

Hi Ian

As Melaine saya it just depends who you choose....

My IP is debt free direct and I did not pay any fees up front.

regards

huggy

[ian]

Hello all.

I am going to use Thomas Charles,by what i have read,and heard they are sussposed to pretty good.

[ian]

Hi all again.

I forgot to say that i have a telephone meeting with ThomasCharles on Tuesday night.

So i hope all goes well,as i,m getting sick with worry.

Thank you for your advice.

Regards.

Ian

[Skippy]

Hi Ian, I know it's easier said than done, but try not to worry. I dealt with Thomas Charles and they were excellent. I had contacted a couple of other companies before I spoke to them, but they were the best by far. When I made the first telephone call I spoke to a debt counsellor straight away, and every time I needed to call I always spoke to the same person. All the paperwork was completed for me, and then forwarded onto Accuma, who are also excellent. I made the first phone call on 18th August, and my IVA was approved on 24th October.

I had to make 2 payments to Thomas Charles, but if my IVA hadn't been approved I would have received them back, along with £500 compensation. That took a lot of the worry away, as I'm sure they wouldn't have continued with the proposal if they weren't confident the IVA wouldn't be accepted, as they stood to make no money!

Good luck, and let us know how you get on.

Three down, fifty seven to go until freedom!

[ian]

Thanks for that Skippy13.

I have just signed, and sent the paper work back to ThomasCharles, with 2 post dated cheques.

Not really sure what happens next,just wait to here from them i presume.

They also told me to stop all payments to my creditors.

They seem to think that i have a good case,as i have no assets what so ever, so if i went bankrupt they would not get anything.

All i can do is wait,with my fingers crossed,i,m thinking on the positive side,so i am not really worrying much about it anymore.

Will let you know what happens.Also thanks to everyone else on here as well.

Regards..

Ian