I suspect my IVA provider paid a commission to creditor who referred me to them.

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
User avatar
Richard.59
Posts: 7
Joined: Sun Feb 01, 2015 10:37 am
by Richard.59 » Thu Apr 06, 2017 6:59 am
I suspect my iva provider paid a commission to the creditor that referred me to them, does the happen and should the payment have gone towards what was owed to that creditor?
User avatar
Foggy
Forum Expert
Posts: 23238
Joined: Fri Dec 17, 2010 11:14 am
Contact
by Foggy » Thu Apr 06, 2017 7:31 am
Many IVA providers pay an "introducers fee" to firms that provide leads, or a "packaging fee" to those that actually do the leg work and assemble all of the requred information. The payment will not form part of the creditor's dividend and should be accounted for in the normal course of business.
User avatar
Michael Peoples
Industry Expert
Posts: 15109
Joined: Mon Nov 03, 2008 12:36 pm
Contact
by Michael Peoples » Thu Apr 06, 2017 7:48 am
If the creditor referred you without your permission there could be a breach of data protection. What makes you suspect this happened?
User avatar
Lisa Thomas
Industry Expert
Posts: 5858
Joined: Wed Dec 03, 2014 10:26 am
Contact
by Lisa Thomas » Thu Apr 06, 2017 8:20 am
It should be declared in the proposals or Nominees report - dust this off and have a look.
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 3 guests