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Who pays the IVA fees?

fees IVA pays
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Who pays the IVA fees?

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The creditor pays the IP to manage the IVA on their behalf. During the course of the IVA your contributions will go towards a creditor pot. The money in the pot will be handed over to the creditors at yearly intervals, and at the end of the 5 year term all outstanding debts are written off. This pot is looked after by the IP. Once the IVA has started this pot does not belong to the debtor but to the creditor. IP fees are agreed to and paid for by the creditor out of this pot.

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