Statutory Interest & IP Fees

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Post by Oklahoma » Sat May 29, 2010 7:47 pm

I may be in a position to pay off my IVA at month 6. I am trying to calculate what else I need to pay,£49k of debt,8% SI, plus IP fees which I think are £8k.

If I pay it off, am I liable for the full amount of IP fees even in early settlement? Also, if I cannot pay off until next year, Is it 8% SI of the amount still owing + IP fees that I then have to pay?



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Post by Shining » Sun May 30, 2010 9:51 am

Similar posting here, maybe the answers will help? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.


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Post by MelanieGiles » Sun May 30, 2010 1:30 pm
It depends upon the basis of the IVA and your IP's remuneration. Are their fees fixed, based on time costs or on a percentage of realisations?

Where is the money coming from to settle?
Regards, Melanie Giles, Insolvency Practitioner
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