hi all i have just had my cc after 17 mhts waiting on my statement it states that i paid in £33,230.83 which included £12.502.29 my debt was £27,000 when i have read the statement it reads as follows
nomimees fee £2500
supervisors fee£5,850
office holders expenses £463.14
cost of arrangement £5,107,57
distributions £17,206,57
vat £1,603.79
paymexvat refund £425,75
vat reclaim fee £63,86
bank charges £10,50
total £33.230.83
all my creditors got was £17,206.57 which equates to 64% of my debt i was a liite astoneished to se that nearly half of what was paid into my iva did not get to the creditors has any one esle had this happen tpo them i dont mind that we have to pay the iva companies but this seems a joke when you have stuggled to pay your monthly payements and then get the ppi to give your iva a boost it seems some iva companies have hit onto the gravy train and the longer your iva takes to close they seem to take superviosr fees out as well im glad im now free
I'd like to know that as well - I suspect it is payments to PPI companies thus allowing the IP to claim their own fee on the gross PPI receipts and not the net.
Dawn 22
i would love to know what this money is for too, 36% of the money you paid in was for the iva company!!!! Whats that all about. This is surely never right. How can they justify taking this amount(probably from all customers) Wow what a profit they must be making, whilst you eat beans on toast, they eat out for every meal!!! See Melanie this is the type of thing that needs sorting. Cant you start a lawyers firm as well and see what happens in court???
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
I also run a claims management business, and this is run effectively and efficiently - so not all companies should be tarred with the same brush mole.
Not to detract at all from the serious nature of this thread, but I have just worked a very long weekend and have spent the last 2 minutes wondering what a 'brush mole' is. I think I need to go lie down.
That's exactly what 'Cost of arrangement' is, it's the PPI commission monies, thankfully with Melanie having highlighted this for me earlier on in the year I was able to recoup back just over £2500 that belonged to me!
Shameful, I owed £36000, I paid in with PPI refunds included nearly £67000, I got back £2500!!!!!
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
