recommendations

[anais743]

Can anyone on here recommenend any suitable IP from experience that I could take a look at? There alot out there and I want to narrow my selection down to research.

many thanks

[aguise]

Hi anais and welcome. You can check out iva.com they have reviews of all the companies on there. I would as always recommend Melanie whom I would have chosen if I had found the site earlier.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[anais743]

thnaks for th reply!!

Are you allowed to have anything left over after expenditure for bills that csn be kept for yourself eg (savings for emergencies or for school trips etc for young daughter) that doesnt have to go into the creditors pot?

[MelanieGiles]

Yes - the guidelined expenditure allows for Sundries and Emergencies, Sports, Hobbies and Entertainment, Meals at Work, School Trips, Laundry and Dry Cleaning, Hairdressing, Newspapers and Magazines, Church/Charity, Medical Expenses, and Pets.

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

[OPTIMIST12]

And if you work Overtime you will normally get to keep 50% of the net money earned.

[anais743]

ok next question? How much would a firm (like melanies) expect to make from you as part of the iva?! eg if an agreement of £250 was agreed as a monthly payment what percentage cut does the IP take? The governement website ive been reading says it can be an extortianate money making scheme.

[OPTIMIST12]

What website were you reading? Are you sure it was an official Government website?

I am not with Melanies firm but - just for info -

I started my IVA early last year - My "Nominees" fee was £2500 and the "Supervisors" fee is £900 per annum (+ VAT) - but my debts are a lot higher than yours so you may well have to pay lower IP fees. I think - in addition - fees in general may have come down a bit since then - why not make a few phone calls to some companies as you will probably get some variations between them.

Remember that the fees will come out of your Monthly Payments and your Creditors can require a reduction in fees as a Modification to your proposal if they consider them to be excessive.

[luluj]

We are with Debt Free Direct, the biggest Insolvency provider I understand. There is alot of negative criticism around on this firm, however we have got nothing but positives to say - they have been very responsive, trustworthy and supportive throughout the process and since the IVA approved have helped us with our issues as we go along - nothing too much trouble for them.

Lulu

[MelanieGiles]

I do not think that an official government website would make such comments, seeing as it is the government who actually govern the insolvency profession through the Insolvency Service and are very supportive of IVAs generally.

IP fees are tailored to individual cases, but these days more and more creditors are expecting us to work for a fee of 15% plus VAT of realisations. These fees are paid out of the contributions you pay over.

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