I would like some advice please on GT fees.

[sanityandmadness]

I would like some advice please on GT fees. - I hope this can be shown– but I would like to understand.

I will give loads of info and then ask questions – sorry!!!

In Sept 2008 I went into an IVA. My proposal Summary Sheet States:

Nominees Fee (exc VAT) £2,500
TOTAL Supervisory Fee (exc VAT) £6,000
Disbursements £250
Total Vat £1,531.
Total £10,281.

To my understanding my fees should look like this

Fees £10,281.00
Dividends 100% £ 25,772.80
Total £36,053.80
Paid into Account £36,402.57
Over Paid??? £348.77

GT sent me this
Code 149 PPI CAT 1 DISB
Code 150 Legal Court Fees
Code 153 Credit Card Fees
Code 155 IPS DIS Fee
Code 168 Bank Charges
Code 184 Dividends Payments
Code 216 RBS Main No 5 ACC

Questions are?

1)Why has GT taken £16,218.62? (Am aware that my previous IVA company RSM Tenon would also been included in this).

2)It states TOTAL Supervisor Fees (exc VAT) in my proposal. I understand by law that “Totalâ€￾ means that’s how much you pay – so how comes it’s £2,553.10 more?

3)What is PPI CAT DISB – Does this means the Creditors only received £??? or does it mean GT has taken this (my PPI was more than this?)

4)Why am I paying legal court fees? – this is not mention in my Fees and Costs.

5)Why am I paying Credit Card fees? – should this not be in my Dividends Payment?

6)What is IPS DIS FEE?

7)Why am I paying bank charges? I only went on 1 payment break – which was added onto the end of my IVA – So, my final payment was in October 2013.

8)What is RBS Main No 5 ACC? I did owe HMRC some TAX but would not that be in my Dividends?

Thankyou

[Foggy]

Hi.

Generally disbursements are payable over and above fees and are costs paid out by the IP on your behalf.

You will have to get GT to explain the individual entries.

As for total fees agreed in your proposal, I am guessing this has been amended in your Chairman's Report and you will need to check this document as it overrides the proposal. In many cases the fee structure is amended to a percentage of payments into the IVA, typically 15%