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  • MIVAA
    • #2
    • 20th Jul 09, 1:11 PM
    • #2
    • 20th Jul 09, 1:11 PM
    Hi pammie39

    Payplan and CCCS do not do IVA's free of charge.

    They charge your creditors in exactly the same way the MD&C do so, unfortunately, changing your IP wouldn't reduce your IVA payments.

    If you are struggling to afford your IVA payments then you should contact MD&C and ask them to take a look at your income and expenditure. They may be able to help reduce your payments if things are too tight for you.

    MIVAA
  • pammie39
    • #3
    • 20th Jul 09, 1:50 PM
    • #3
    • 20th Jul 09, 1:50 PM
    thanks for the reply, payments ok at present,but oh is now redundant,so sorting out with m,d and c about how to sort out our payments.
  • thecableguy12
    • #4
    • 23rd Jul 09, 12:06 AM
    • #4
    • 23rd Jul 09, 12:06 AM
    yes cccs and payplan give free adive and no charge to dmp plans but still charge supervisors fees and nominee fees so will be the same as mdc
    Aqua card - 250 Limit up to date, Jd Williams 150 limit up to date, Argos store card 400 limit up to date, Next 300 limit up to date.
    • Deep In Debt
    • By Deep In Debt 24th Jul 09, 7:03 PM
    • 8,261 Posts
    • 13,034 Thanks
    Deep In Debt
    • #5
    • 24th Jul 09, 7:03 PM
    • #5
    • 24th Jul 09, 7:03 PM
    They do charge for their IVA's but I think Payplan and CCCS charge less in fees. Also, they will only recommend an IVA if it is suitable for you. Unlike MD&C who just want the money. Anyway, it may be worth calling PP and CCCS and see what they say, they will know if you can change.
    Debt 30k in 2008. Cleared all my debt in 2013 and loving being debt free
    Mortgage free since 2014
  • thecableguy12
    • #6
    • 26th Jul 09, 3:37 PM
    • #6
    • 26th Jul 09, 3:37 PM
    They do charge for their IVA's but I think Payplan and CCCS charge less in fees. Also, they will only recommend an IVA if it is suitable for you. Unlike MD&C who just want the money. Anyway, it may be worth calling PP and CCCS and see what they say, they will know if you can change.
    Originally posted by Deep In Debt
    The fees are calculated from the proxy voter, Example if the had debt was with halifax cap1 etc this will be voted by a company called the Insolvency exchange (tix), so wether its done through mdc cccs or payplan the fees will be exactaly the same, the company has no say to what supervisor fees and nom fees are. here is an example of the mods used for such a proxy voter,

    The Insolvency Exchange Standard Modifications


    202. Nominees Fees (5) and Distribution of Contribution to Creditors
    The Nominee Fee including VAT will be the equivalent of the first 5 monthly payments and drawn as soon as funds permit. The first dividend shall be paid by month 8 of the arrangement and subsequently paid quarterly as a minimum thereafter

    203. Supervisors Fee
    The Supervisor Fee excluding VAT will be equivalent to 15% of all further realisations and drawn proportionally as funds are received.

    206. Payments made to Nominee pre IVA
    The balance of any payments made to the Nominee, or any third parties in relation to the original consultation or preparation of these proposals, less the fee agreed by the debtor, will immediately be paid into the arrangement for the benefit of unsecured creditors. Any such sums are to be paid in addition to the contributions offered in the original proposal.
    Aqua card - 250 Limit up to date, Jd Williams 150 limit up to date, Argos store card 400 limit up to date, Next 300 limit up to date.
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