Is it usual for an IVA firm to charge £1000 for an early settlement figure ?

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dan833
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by dan833 » Thu Dec 28, 2017 11:14 pm
Is it usual for an IVA firm to charge £1000 to contact the creditors for an early settlement figure? We are 5 years in to a 5 year IVA with 12 month extension clause if we cannot remortgage.
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luluj
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by luluj » Thu Dec 28, 2017 11:36 pm
That seems alot of additional fees for a F&F ...hoping one of the forum experts will be able to confirm for you in the morning.

Well done for reaching this stage of your iva.
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Foggy
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by Foggy » Fri Dec 29, 2017 9:43 am
The usual cost for holding a variation meeting is around £500 and, these days, this is often limited to £300 by the creditors themselves. £1000 does seem a bit rich.
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Lisa Thomas
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by Lisa Thomas » Wed Jan 03, 2018 3:31 pm
Depends on your terms - the answer will be in your proposals/modifications.

More importantly have you checked the equity in your property to see if you can avoid the extension?
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