re proposal

[kieranandmegansmum]

finally recieved my proposal today offering 200 for 1 year then 318 for next 4 years once car hp is paid off this is for a 27800 debt no equity release ip fees 3000 joint +vat does this sound reasonable for my creditors

S WARD

[Adam Davies]

Hi
That sounds a good deal offering your creditors close to a 50p dividend.
Good Luck


Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[kieranandmegansmum]

i think it says 41.4 in the pound

S WARD

[Adam Davies]

Hi
Are the IP fees 3k each ?

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[cr15py]

£27,800 debt @ 41.4p = £11,510 to creditors.

Total fees paid = (12 x 200) + (48 x £318) = £17,664.

Therefore, fees = £6,154 (or £5,237 exc VAT).

I think that's right, no doubt someone will tell me otherwise if it isn't!

[kieranandmegansmum]

it says the cost of acting as my husbands and my nominee are to be a total of 3000 plus vat

S WARD

[Adam Davies]

Hi
Well it must be 3k each,as Cr15py has shown, otherwise a 3k total joint fee the dividend would be just under 50p,as in my example
Anyway it's still a very good offer
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[cr15py]

Wouldn't a £3k joint fee be very low - it's less than my fee, and mine is only a single application?

[kieranandmegansmum]

3k plus vat that what it states on my proposal

S WARD

[Adam Davies]

Hi
3k is the joint nominee fee,there will be supervising fees on top of that,probably £600 per year,giving a total cost of 6k

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Lisa2009]

Which i think is quite good. Hubby's overall fees came to £7500 + VAT

[cr15py]

I think my fees are £5520 inc VAT (£4700+VAT).

[kieranandmegansmum]

although i recieved my proposal today the iva company want an up to date mortgage statement i havent got one an it is going to cost me 30 pounds for one to be done the iva company has said it will hold things up if i havent got one should i still sign the proposal in the meantime and send back because what way will this hold things up if they have sent me my proposal

S WARD

[MelanieGiles]

Then the figures are likely to be incorrect and it may need to be amended. I wonder why they did not ask you to provide this when you first instructed them.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[kieranandmegansmum]

started signing my proposal last night and noticed they have missed one of my creditors about 850pounds would this amount affect my proposal too much i know i need to contactthem re this

S WARD