www.iva.co.uk

Hi, I know how the IVA works but i wanted a bit more in depth knowledge as to how the supervisor fee and the nominee fee is calculated for the fees.(is it a % of the available contribution? etc) Could anyone kindly please shed some light on this? Any info is much appreciated

It should be stated in your paperwork, all fees will have to be agreed to by the creditors.

I don't know how they work it out but once your IVA is approved the creditors are obviously happy with the fees etc.

If you are looking into an IVA then I suggest you visit www.iva.com for a list of companies and reviews. Give one or two a ring for some free advice.

In my case it was a set amount, as agreed with the creditors for the nominees fees. These were to be collected from the first few payments. Thereafter it was 15% of the payments, again as agreed by the creditors.
To be honest, as long as the creditors are happy, then so am I.

I've answered this on your other post.

Thanks Melanie - Much appreciate it. Which firm do you work for if you dont mind me asking?

I own my own firm Adam - actually I have four companies in my group all specialising in differing areas of insolvency.