iva

[jampotfairy]

When I last spoke to the IP's office this afternoon, they said the reason I would have to pay the fee is because my IVA had been accepted by my creditors.

[jampotfairy]

I'm really sorry to harp on about this but I really don't feel that this is the right solution for me or for the companies I owe money to any more and I'm really very upset that this company seem intent on forcing me into it.

[Adam Davies]

Hi
Well I,ve not come across a letter of engagment that Catullus refers to.Can you remember signing such a letter ? I suppose that the IVA provider feels that they have done their work and got your IVA accepted so why should they be out of pocket.
I think the best way forward is to not sign and accept the IVA and to try and negotiate a repayment with your IP over a set amount of time,say three years.The other option that you have is to not sign and accept the IVA and to wait and see if the IVA provider chase you for the nominee fees.
As Catullus states try and come to an amicable agreement with your IP.
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

[jampotfairy]

I have made an appointment to see my local CAB office tomorrow to see what they say. Thank you for all your advice, it's much appreciated.

[Oliver]

All the best with it and please update us on the outcome.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[jampotfairy]

I wish I had stuck with my DMP in the first place now.

[Oliver]

Try to keep positive, although I understand this is a very frustrating situation. Talk to CAB and also try to come to a solution with the IP.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[jampotfairy]

I am waiting for the IP to call me back this afternoon. I will post tomorrow when I have been to CAB.

Thank you everyone.

[Adam Davies]

Hi
When you speak to the IP try to come to an agreement as I,m sure that they will just want to cover their costs and they may well be prepared to accept a lesser figure under the circumstances.
If you agree a figure then arrange an acceptable payment plan for both of you.
Good Luck
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

[jampotfairy]

Well it would seem that at this point, if I pull out then I will have to pay the IP company £2500 plus VAT for the work they have done. Obviously I can't afford this so it would seem I have no choice but to sign the proposal and carry on.

This whole experience has left me so bitter, I just want to get my head down and get on with it now. [:(]

[catullus]

Can you explain exactly why the IP says this? Does it relate to the letter of engagement?

Have you actually signed your consent to the IVA with the modifications that were proposed?

I really wouldn't agree to going in to an IVA if it isn't right for you but there is quite a bit missing from your story to be able to give you sensible advice.

A bit more info might unlock a solution.

[Adam Davies]

Hi
That doesn,t sound the right thing to do if your new job will enable you to repay your creditors in full by way of normal contractual payments.
Ask them how long you have left before the you have to sign and take further advice.
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

[Keepingmyheadabovewater]

hi jampotfairy on the dmp program it will take you 7 to 10 years maybe more to pay of your debt and the dmp fees are a lot higher than in a iva and if you stuck to the dmp program creditors can at anytime come in for the full amount of your debt and doing a iva you are debt free in 60 months with very little damage on your credit file and creditors cany contact you by law while in on the dmp you will get nasty letters and creditors phoning up up at work and at home

JOHN