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

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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?
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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.
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Michael Peoples
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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?
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Lisa Thomas
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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.
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