www.iva.co.uk

When i recalculated the Dividend for the variation meeting i included the IP fees (based on approx 5 - 7K) it roughly works out at 42p, when the proposal are set is the IP fees excluded in the Dividend, (this will make it at 32p which no doubt NR will not accept).

Thanks

51 payments to go
(I apologise for my keyboards poor spelling and grammar)
http://coco.blogs.iva.co.uk

Sorry Coco - don't understand that post. Can you clarify please.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi Melanie,

My new calculations for the variation meeting will be 42p in the pound but this will include the IP fees etc. If the IP fees are not included into the dividend return then based the fees at approx. 5-7k which will mean that the new dividend would be 32p.

Sorry

51 payments to go
(I apologise for my keyboards poor spelling and grammar)
http://coco.blogs.iva.co.uk

So what are you saying? That the fees are included or not! Sorry I really don't understand the point you are seeking advice on here Coco. (Or I'm being thick!!!)

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

No your not thick i am usless at trying to explain things, when the dividend is calculated is the IP / Supervisors fees included in pence so if NR ask for 45p are the IVA fees included in this 45p or is it that NR get 45p, Because when i calculated the payments that i am proposing the total dividend is 45p but this includes the IP fees so NR for eg would be getting 33p and synergi get 12p (Total 45p)

51 payments to go
(I apologise for my keyboards poor spelling and grammar)
http://coco.blogs.iva.co.uk

Now I get it!!! The dividend is always after the IP fees have been taken into account. So if the requirement is for 45p - that is 45p plus IP fees.

Hope that makes sense!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

I dont hold much hope then that NR will accept the variation oh well i suppose 1p in the pound ( if BR)is better than having 33p,

Thanks Melanie

51 payments to go
(I apologise for my keyboards poor spelling and grammar)
http://coco.blogs.iva.co.uk

Coco

33p is a good offer and is 2p more than the national average return in IVAs generally. If that is not good enough for Northern Rock then that will be their loss.

Good luck

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk