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Creditfix IVA Adjustment Request

Sparkles87 Forumite Posts: 701
Tenth Anniversary Combo Breaker
I've just received an email regarding creditfix wanting to call a meeting of creditors to adjust their fees. 
The worrying part is the comment at the bottom which states:
Please note, you may be impacted if a change in circumstances allows you to repay your creditors in full. 

As I may be in the position of being able to pay it off early. I believe they also feel that I pay the very lowest that creditors would allow percentage wise at present so I'm concerned what would happen as I can't pay more monthly. 


  • sourcrates
    sourcrates Forumite, Ambassador Posts: 27,664
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Someone else posted a similar thing earlier today, this was my response to them, it also applies to you-

    Your IP can claim certain fees associated with the arrangement and running of your IVA.

    These are usually agreed at the start, but I suspect, due to ever increasing costs they want to increase the amount they can take from your pot, so have called a creditors meeting to gain approval.

    They are correct, it won`t impact you in any way, they were always going to take their cut from your payments, it just means your creditors will get less pence in the pound return, which is why approval is being sort.

    That is a non issue as far as you are concerned, so I would agree to it.

    As for this -

    Please note, you may be impacted if a change in circumstances allows you to repay your creditors in full. 

    This is just a standard generic statement which has always applied to all clients regardless.
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