what are the implications for the applicant?

[enquirer]

What is the difference between using a company like debt express, for example, or a company like payplan? The latter gets paid by the creditors whereas the former request payment from the applicant but what are the implications for the applicant?

[aguise]

Hi most fees are recouped within the iva itself and are agreed with the creditior I would avoid anyone who asks for these separately as there is no need for it. Someone correct me if I'm wrong.

Ang

[Adam Davies]

Hi
You need to clarify with the company about actually what happens with the upfront money.Some companies use this as a fee and others as payment towards your IVA.
Make sure that you are clear and that you have the answers to your questions put in writing.
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[MelanieGiles]

If you are going to pay money to anyone on an "up-front" basis, make sure you understand whether you are entitled to receive a refund of that money in the event that your IVA is not accepted. Beware any practitioner who does not offer this service.

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