My creds if my IVA goes the full 5 years will receive 20p in the pound, after Payplan's fee's. I have offered £18.5k in F & F, which if accepted means I will be paying £1850 less to the creditors should the arrangement go the whole way.
In the draft letters, payplan have stated that if the F & F gets approved, the return to creditors will be 20p in the pound after fees. This I read as meaning that the creds will get the same in Jan if the F & F gets accepted as they would in Nov 2010 when the IVA finishes. Am I correct in thinking this and if so, how does that work out? Does it mean that Payplan are reducing their fee's?