Wrong data in final report

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by eddie » Mon Jun 05, 2017 8:55 pm
Hi I have just completed my iva and received my final report on it states supervisors remuneration est 1200.00 realised 4071.95 this is a very big difference so I contacts my debt management company to question this figure they said it did seem strange and would get my supervisor to call me but never did the amount I paid each month more than covered my debt and I also claimed a PPI which worked out at 3251.36 so it appears to me the iva company have kept this money every other item on the final report was spot on could you give advice on this
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by Foggy » Tue Jun 06, 2017 6:54 am
Therse days the renumeration to the supervisor is based on a percentage, as agreed by the creditors. Typically this is 15%. smetimes a little more. At the begnning of an IVA there are projected figures, on which this percentage is based. During the life of the IVA, often, extra money is paid in (overtime, increased monthly payments due to pay rises and PPI) . This extra increases the renumeration to the Supervisor, being percentage based.

The fees agreed should be detailed in the Chairman's Report of the initial creditors meeting.
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Lisa Thomas
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by Lisa Thomas » Tue Jun 06, 2017 9:04 am
Check what terms you agreed to in your IVA and any modifications. If 15% of realisations then check this agrees to the total Receipts. You and the creditors agreed to their charging basis.

Depending on the figures it is unlikely to make any difference to you in any event - it means the creditors have received less, which they would have agreed to.
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