Cut Price IVA's TIX the box
The 'The Insolvency Exchange' announced that it intends to make "major changes" in acceptance criteria for IVA applications. Currently processing in excess of 70% of all IVA applications, TIX claim that the proposed changes should effectively cut insolvency practitioner fees by around 20%. In the coming months it will introduce a whole range of processes designed to improve overall efficiency. Simplified proposal formats and electronic payment processing are just a couple of the proposals that will benefit both applicants and practitioners alike. It will also be standardising the way in which all IP firms earn their fees. With such a large share of the market, TIX believes that the new processes will have a significant impact on providers as they will be, in the main, relevant and applicable to the majority of the relatively straightforward, consumer cases that currently account for around 80% of applications.
