hello All

[Anyen]

Just want to say hello to allof us in this growth industry,It must be Christmas for the pepole who do the IVA's.That said, some are better than others. Yes I do feel bitter. and my gripe is this,at the beginning of the IVA a sum agreed to be paid, is made.
so then that sum shud remain fixed. yes the money was borrowed from the various lenders, but they can write debts off to the taxmean.
Sorry peeps jusd to say it

[kallis3]

Hi whichway,

The IVA companies only charge the fees they are allowed in order to run your IVA for the term and for the setting up.

You agree to pay a certain amount, but if you can afford to pay more because of overtime or bonuses then great.

You will always owe the full amount to your creditors plus IP fees and we should be grateful that we are allowed to write off a certain percentage.

We borrowed the money with the intention of paying back in full.

[Shining]

Your IVA payment is based on your disposable income after necessary expenditure, therefore is this rises your payment will too.

I can imagine an IP's job to be a very difficult one for which they have to be paid and my hubby tonight was glancing through our review paperwork received and he said about charges and my exact words to him were 'don't worry about that part, that's agreed by the creditors, we only pay £x amount whatever that says'.

[ginger3232]

Whichway - if the sum was fixed at the start of the IVA - chances are the fixed sum would be greater than what we could afford. As we are aware the payments on the IVA are based on "left over" disposable income. Some people will pay a higher percentage back than others. And some critics of this, would say this is unfair.

At the end of the day this money was borrowed by us,and despite some of the debt being written off my tax losses, personally i feel we have both a obligation and moral duty to pay back as much as we can afford.