The requirements of Statement of Insolvency Practice No 3 - Individual Voluntary Arrangements make the position quite clear on this issue. There in only one way to do it in my book!
I have never gotten to speak to mine, always spoken to one of the caseworkers, some better than others to be honest but do not have too much to complain about, apart from on one occasion, however if you specifically ask to speak to your IP you should have that right to do so. Seems Mel is the shining light with regards to this.
If you went to a firm of solicitors and a junior clerk, legal exec or trainee did all the work - however effectively - you wouldn't expect to be charged at the rate of a senior partner would you ?
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by TigerTiger
If you went to a firm of solicitors and a junior clerk, legal exec or trainee did all the work - however effectively - you wouldn't expect to be charged at the rate of a senior partner would you ?
You probably would though
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
As has been said on here before and no doubt will be said again - I really don't care about the fees. We agreed to pay back what we could afford, part of that is fees, part payment to creditors. If the creditors are happy with the fees then I'm more than happy!!
I have said this before too.... the payments we make go into a bank account for dispersing at a later date to our creditors. At the creditors meeting (agreement date of IVA) the creditors agreed that IP's fees be taken from that pot of money, and agreed to write off any outstanding debt at the conclusion of the IVA. I therefore view this as the creditors paying the IVA fees, as although I have completed, I have in no way paid the full amount of original debt, not even close, when you consider the amount of interest that would have been charged over the 6 years had I not been in the IVA.
Kazzafunk and Kaykay : the impact of front-loaded IVA fees is only felt when an IVA fails. Since 1 in 3 to 1 in 4 IVAs do fail, it is an important issue for many people. If they have paid into an IVA for 1 or 2 years only to find on it failing that all their payments have gone in fees, nothing has come off what they owe and they are back to where they started then they cannot afford to be as relaxed about the issue as you are. The situation can also be further exacerbated by some IVA firms having also insisted on PPI claims being made through their chosen claims company and fees of 40% resulting again in balances left outstanding that are higher than they need have been. Sometimes you have to look outside your own experience and what worked for you when looking at the drawbacks of a product which is so widely sold.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by TigerTiger
If you went to a firm of solicitors and a junior clerk, legal exec or trainee did all the work - however effectively - you wouldn't expect to be charged at the rate of a senior partner would you ?
At the end you get a breakdown of the costs on your IVA, and depending on the time spent by which person in the IP practice would depend on what the creditors got charged so I'd suspect they would want to keep the IP involvement to a minimum for that reason.
As I've said before I was quite happy with the case administrator who did a excellent job throughout.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
I would certainly agree that the substantial fee squeeze that insolvency practitioners have been subjected to in the last five years at the hands of creditors, may have contributed to some firms wanting to limit the involvement of senior members of staff, but this does not negate the overall responsibility.
the question was not about fees but a general feel for what contact we have with the people who are contracted to rule our finacial lives for 5-6 years.ips like mel are there upfront of her buisness and will talk to anybody.(not meant to mean you are a pain in the ass)the people who come on here from various firms are prob more important than there bosses ie the ip.they do get things moving and sorted without prob the ip ever knowing about them other than signing stuff off.
cc received 6th January 2014 now upwards and onwards
I am a client of Melanie`s and I have spoken directly with Melanie on quite a few occasions, but generally most queries I have are dealt with immediately by my case manager.
I know that Melanie is contactable should the need arise, though.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
I think all of you that are with Melanie's company are extremely luck and fortunate to have such a direct, hands on IP. With the bigger factory style companies, it is nigh on impossible to speak with your IP.
