Do I have to pay exit fee to conclude IVA?

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ian437

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Post by ian437 » Wed Apr 10, 2019 1:00 pm
If I have finished paying my IVA, do I have to pay an exit fee to conclude the IVA arrangement?

Foggy

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Post by Foggy » Wed Apr 10, 2019 1:26 pm
If you have paid all agreed installments and all extra income payments etc. due there is no more to pay and the IVA will conclude shortly. I am assuming that you are either renting your home ot, if you own, that equity release has been dealt with already.

Where has the concept of an "exit fee" come from ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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kallis3

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Post by kallis3 » Wed Apr 10, 2019 4:25 pm
I was wondering that as well.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

ian437

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Post by ian437 » Thu Apr 11, 2019 7:08 am
Wed Apr 10, 2019 1:26 pmFoggy wrote:
If you have paid all agreed installments and all extra income payments etc. due there is no more to pay and the IVA will conclude shortly. I am assuming that you are either renting your home ot, if you own, that equity release has been dealt with already.

Where has the concept of an "exit fee" come from ?
I have I believe paid all of my instalments but have just been informed that there is an amount of over a further £500 that I am expected to pay re the IVA. I have no idea what this amount is for & I have never been made aware if it, it has come as a complete surprise to me. No explanation has been forthcoming from the company who administers my IVA, so I wondered if it was an 'exit fee' charge, hence my original query/question.

Thanks, Ian.

Foggy

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Post by Foggy » Thu Apr 11, 2019 8:03 am
I suspect that they have done their final review and found some unpaid / undeclared extra income. This will not be a final exit fee and you are entitled to know where they have got their figures from.

Who are you with ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

ian437

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Post by ian437 » Thu Apr 11, 2019 8:07 am
Thu Apr 11, 2019 8:03 amFoggy wrote:
I suspect that they have done their final review and found some unpaid / undeclared extra income. This will not be a final exit fee and you are entitled to know where they have got their figures from.

Who are you with ?

Freeman Jones

Foggy

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Post by Foggy » Thu Apr 11, 2019 8:12 am
Ah. We have had a number of these queries from FJ clients of late. I would suggest that you drop an email to ian.williams at FreemanJones.com asking for an explanation. He is their forum representative and will assist, I am sure.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

ian437

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Post by ian437 » Thu Apr 11, 2019 8:16 am
Thu Apr 11, 2019 8:12 amFoggy wrote:
Ah. We have had a number of these queries from FJ clients of late. I would suggest that you drop an email to ian.williams at FreemanJones.com asking for an explanation. He is their forum representative and will assist, I am sure.
Thank you so much for the information, very much appreciated.

Ian
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