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Some interesting info from a PDF on the debt free direct site
zAndy1
Posts: 258 Forumite
Hi,
Found some interesting (and rather surprising) info in a PDF I came across tonight while doing a google for 'joint iva'. E.g.
'For each IVA that proceeds to maturity , DFD derives fees of £7200 exc VAT'
I thought fees were typically £3000 ish? This seems to be explained later on as they get £75 per month + VAT 'supervisory fee' on top of the initial £2500 fee
'An IVA then requires the agreement of creditors, with the required 75% majority of the creditors who vote at the meeting being a significant hurdle'. So many IVA inquiries fail to progress to initiation. About 30% of the responses gained by DFD are worth following up. Of these only 10% actually proceed to an IVA'
And I thought once you had decided to go down the route of an IVA it was pretty much a given that the creditors would agree to it, that's what I was told anyway!
'DFD estimates that it currently spends £1500 on advertising for each IVA case that it starts... .... DFD has concluded a reciprocal arrangement with CCCS, a creditor funded debt management agency , to obtain potential leads in the north of england that may be converted into IVAs'
Explains why CCCS put me onto DFD pretty sharpish then...
Found some interesting (and rather surprising) info in a PDF I came across tonight while doing a google for 'joint iva'. E.g.
'For each IVA that proceeds to maturity , DFD derives fees of £7200 exc VAT'
I thought fees were typically £3000 ish? This seems to be explained later on as they get £75 per month + VAT 'supervisory fee' on top of the initial £2500 fee
'An IVA then requires the agreement of creditors, with the required 75% majority of the creditors who vote at the meeting being a significant hurdle'. So many IVA inquiries fail to progress to initiation. About 30% of the responses gained by DFD are worth following up. Of these only 10% actually proceed to an IVA'
And I thought once you had decided to go down the route of an IVA it was pretty much a given that the creditors would agree to it, that's what I was told anyway!
'DFD estimates that it currently spends £1500 on advertising for each IVA case that it starts... .... DFD has concluded a reciprocal arrangement with CCCS, a creditor funded debt management agency , to obtain potential leads in the north of england that may be converted into IVAs'
Explains why CCCS put me onto DFD pretty sharpish then...
0
Comments
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:wave: That doesn't make a lot of sense to me honeybun.
I just can't imagine the lovely fluffy debt charity CCCS providing leads for the scummy profiteers off people's misery DFD.
Love Jacks xxx
Not everything that can be counted counts, and not everything that counts can be counted. Einstein0
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