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foxbat
Junior Member
184 Posts |
 Posted - 31 May 2008 : 13:01:21
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Hi All,
Hope you can give me some advise. Julian advised me that although CB were very good it may be best to take advice from an expert eg Insolvancy practitioner. I don't know much about them eg: how much will it cost for advice and what can they do for me, where will I find one near me etc..?
Please let me know your experiances
Thanks everyone |
Edited by - foxbat on 31 May 2008 19:19:56 |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 01 June 2008 : 01:34:33
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| Hey foxbat, where do you live? Melanie Giles, an expert on here is in Cardiff and also offices in Birmingham and Ian Millington an expert on the sister site is in Manchester. You can get their contact details from the "meet the experts" page. They both come highly recommended. Unless you are self employed you don't really have to meet an IP you can just talk on the phone. Initial telephone advice will cost nothing. I don't know your circumstances but if you are going for an IVA as opposed to bankruptcy then the IP fees will come out of your monthly repayments that your creditors agree so no upfront fees. Hope this helps. Viki X |
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foxbat
Junior Member
184 Posts |
Posted - 01 June 2008 : 10:16:02
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Hi Viki
thanks for the reply - I am self employed and intended visiting citizens advice soon. I have found IP's advertised near me but just wondered about charges and services |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 01 June 2008 : 17:12:12
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| Hey foxbat. An IP will go through all your debt options whether this be banktuptcy, a debt management plan or an IVA. A reputable company will not charge you any upfront fees. If your IVA is approved then the fees are deducted from your contributions at the agreement of your creditors. You will only pay your disposable income into your IVA, the IP will deduct their fees then distribute the rest of the money to your creditors. You will NOT have to find extra money to pay an IP. I hope this helps. This is only my opinion, but I am with Melanie Giles, and expert on here, and I would really recommend her. Good luck. Viki X |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 June 2008 : 11:48:18
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Hi Foxbat,
For an IVA, IP's can charge up to £6,000 plus (in larger cases) a maximum of 20% of the total debt as well. These fees do vary from IP to IP, so if an IVA is for you, I would suggest getting two or three quotes before embarking down this route.
Melanie does have an excellent reputation in this area, so my first port of call would be to contact her via her web link on the experts page.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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IP v's Citizens Advice
