Posted: Tue Feb 26, 2008 10:17 pm
Having got safely through my first twelve payments I am eagerly awaiting the results of my first Annual Review and receiving a copy of the report to Creditors that I believe is produced at this time. I am hoping that this will give me the outstanding balances from the late claimers amongst my Creditors and that - once I have all these figures - I will then be able to calculate the exact amount required to reach my "Minimum Dividend" requirement - (as stipulated in one of the Modifications to my proposal).
My IVA fees were set out in the proposal on a fixed basis -i.e. £X Nominees Fee, £X per annum Supervisors Fee, + VAT + Disbursements. I realise that the Disbursements will be impossible to fix in advance - but am hoping that the other elements will be "set in stone" to avoid upsetting my Minimum Dividend sums.
I am just getting a bit worried with all the current developments in the IVA industry (companies being taken over and the changes in the way fees are now calculated a la "Protocol") - are there ANY circumstances whereby my fixed fees / costs (disbursements excepted) could be varied in any way?
If for example Company A acquires the "book" of Company B are they allowed to change pre-agreed - and signed - fee arrangements? Alternatively - is it possible that any future "Protocol" agreed could ever provide for retrospective amendments to existing arrangements?
I am sure I am being paranoid in the extreme but an IVA gives you a lot of time to think / worry about things (!) and was wondering if anyone had any thoughts on this?
My IVA fees were set out in the proposal on a fixed basis -i.e. £X Nominees Fee, £X per annum Supervisors Fee, + VAT + Disbursements. I realise that the Disbursements will be impossible to fix in advance - but am hoping that the other elements will be "set in stone" to avoid upsetting my Minimum Dividend sums.
I am just getting a bit worried with all the current developments in the IVA industry (companies being taken over and the changes in the way fees are now calculated a la "Protocol") - are there ANY circumstances whereby my fixed fees / costs (disbursements excepted) could be varied in any way?
If for example Company A acquires the "book" of Company B are they allowed to change pre-agreed - and signed - fee arrangements? Alternatively - is it possible that any future "Protocol" agreed could ever provide for retrospective amendments to existing arrangements?
I am sure I am being paranoid in the extreme but an IVA gives you a lot of time to think / worry about things (!) and was wondering if anyone had any thoughts on this?