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Posted: Sun Jun 24, 2007 1:40 pm
by Chris.z
Could someone actually tell me the amounts IVA's and DMP's cost?? I have read 8k for an IVA but have also just read on the IVA squirrel Website that they charge only two extra IVA payments onto the IVA , this confused me a bit?? Are fee's regulated by anyone??
Regards
Chris
Posted: Sun Jun 24, 2007 2:40 pm
by Adrian Ratcliffe
Hi Chris,
All IP's charge different amounts check before you enter.
Many won't give you a quote if you read through the threads on this site you will see how much it varies.
With DMP they can go on for ever and the interest isn't always frozen.
Regards
Adrian
Posted: Sun Jun 24, 2007 3:04 pm
by iva_squirrel
Hello Chris,
You do not pay anything other than your agreed, fixed monthly contribution.
An IVA can only be prepared for you by a qualified licensed insolvency practitioner, so there are inevitable professional fees .
However, all fees, are paid for from the contributions you make and which are agreed by your creditors. The majority of insolvency practitioners take their fees from IVA fund that is paid to your creditors.
In other words, it is your creditors, not you, who pay the insolvency practitioner’s fee.
Kind regards,
Julia Simavi
Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007
View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp
Visit my website:
http://www.supersonicsquirrel.net
Credit Today Awards 2007
http://www.credittoday.co.uk/awards/winners.htm
Posted: Sun Jun 24, 2007 5:12 pm
by Adam Davies
Hi
Just to clarify the above post.
Thomas Charles charge the equivelent of two months IVA payments to prepare and recommend an IP[they have a extremely high success rate so it,s money well spent].Your creditors then fund your IVA from the payments that you make into it.
You are correct in that the average fee for an IVA is 8k.
Regards
Andy Davie
IVA.co.uk Spokesperson
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Posted: Mon Jun 25, 2007 11:44 am
by Chris.z
Hi Andy are these fee's proportionate with the length of time an IVA is running. For instance if an IVA is either ended early or a full and final settlement is offered are the fee's reduced proportionately???
Chris
Posted: Mon Jun 25, 2007 12:14 pm
by Adam Davies
Hi
Yes they should be but remember that if you are to offer an early settlement then your IP will charge a variation fee and possibly other costs.
Regards
Andy Davie
IVA.co.uk Spokesperson
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp