www.iva.co.uk

Hi
I was just wondering if I was to pay off my iva early with a full and final settlement will the supervisers and nominees fees and expenses still be the same or less?
My iva states that the supervisers fees and expenses are £3172.50 (including VAT) plus my nominees fees are £3172.50 (inc VAT) in total £6345.
My creditors are due to get 31p in every £ and the original debt was £28000
The Iva has been running for 18 months.
If I was to settle early I would offer around 35-40p in every £, but would I also have to add the fees and expenses (£6345) to this figure to settle early
Thanks any advice would be much appriciated

I think that the norm is to offer at least the original dividend plus the ip fees, though they may be reduced slightly as you would be finishing it early.
I am only like you in anm iva so wait for other answers.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

The easiest way I found to do it was take your monthly contributions and times by 60 (assume you have IVA for 5 years). This will be your total contribution to your arrangement (including all fees etc).

You say you have been in it for 18 months? If so, work out how much you have paid so far (ie 18 x £monthly contribution) and take this off the other total. This will give you what you would need to offer as F&F had your IVA run for 5 years.

This would mean you would meet the dividend set in your proposal. Just remember that you will have to pay the fee for hte variation meeting but you may pay less IP fees overall due to it not running for years 3-5.

HTH
Kerri