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Unfair IVA managers?
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We entered an IVA for personal and business in 2018. At the beginning the managers said they would cap their costs because we are in bad shape. It has been a long drawn out affair, selling properties was difficult before the virus but now we have them back on the market, fingers crossed! My problem is the managers are now applying to court to increase their fees by 2/3 thousand. Our creditors all have voted against this 3 times so are obviously helping us. Has anyone got any advice how to stop them doing this and adding to our IVA?
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Grania said:It has been a long drawn out affair, selling properties was difficult before the virus but now we have them back on the market, fingers crossed!0
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Doesn't really make much difference to you what they charge.
The fee`s are paid from your monthly payment, you still make the same payment, for the same length of time, all it means is the creditors get a smaller dividend than they would have done, hence why they won`t agree to it.
Not really your issue to deal with.
Also why are you selling properties in an IVA ?
An IVA is meant for those who cannot afford to go bankrupt due to having assets, usually property, so why sell them ?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1
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