Fee Policy

Partners Fee Information

IVA Fee’s

How much does an IVA Cost?
The IVA fees will have been fully explained by your advisor and will be detailed in your IVA proposal. But, if, at any time, you do not feel you fully understand the fee structure we have in place, please contact us and we will explain the cost in more detail.

The fees charged for initiating and supervising your IVA are included in the agreed amount you pay each month into your arrangement. There are no additional or hidden IVA costs.

There are two sets of fees which are charged for an IVA: The Nominee’s fee and the Supervisor’s fee. No other fees are charged.

The Cost of an IVA: Nominee’s Fee
The Nominee’s fee covers the time and expertise needed to consult with you and establish your income and expenditure, assets and liabilities in order to put together the IVA Proposal which is submitted to your creditors. The Nominee represents you from the beginning of your instructions to help you put a proposal to your creditors until the creditor’s meeting and, if the proposal is accepted, your Nominee becomes your Supervisor thereafter.

The Nominee’s fee can typically vary from £1,000 to £2,220 depending on your creditors agreement. This will be drawn over the first year of the arrangement (usually within the first five months).

If you are a sole trader, partner in a business or have complicated affairs, the Nominees fees may occasionally be higher – but we will explain the reasons for this if they are higher than as previously stated.

The Cost of an IVA: Supervisor’s Fee

In addition to the above, following approval of the IVA, a monthly Supervisor’s fee will be taken. The Supervisor’s fee covers the specialist work carried out throughout the duration of your IVA (normally a five year period) to ensure it is managed correctly and ethically. You will have appointed a Personal Supervisory Advisor who will manage the day to day running of your account who is qualified to help you should any changes to your circumstances affect your ability to pay your monthly IVA contribution. Furthermore, your Supervisor will conduct annual reviews throughout your IVA term to ensure payments are still affordable and to address any variations that may be needed.

The Supervisor fees are never more than a maximum of 18% of all the contributions you make over the period of the IVA, taken monthly, in fulfillment of the supervisory role.

The Cost of IVA Advice
We don’t make any charge to you for any debt advice given prior to the IVA being prepared, however if a Meeting of your Creditors has been arranged and you decide not to proceed, our partners reserve the right to charge you £250 to recover costs and disbursements that we have incurred. There are never any other charges whatsoever.

If, in the unlikely event your proposal is refused by creditors, we do not make any charge to you. We will suggest an alternative program to you which may be acceptable to your creditors at that time.

Trust Deed Fee’s

How much does an Trust Deed?
The Trust Deed fees will have been fully explained by your advisor and will be detailed in your IVA proposal. But, if, at any time, you do not feel you fully understand the fee structure we have in place, please contact us and we will explain the cost in more detail.

The fees charged for initiating and supervising your Trust Deed are included in the agreed amount you pay each month into your arrangement. There are no additional or hidden Trust Deed costs.

There are two sets of fees which are charged for an Trust deed: The Nominee’s fee and the Supervisor’s fee. No other fees are charged.

The Cost of a Trust Deed: Nominee’s Fee
The Nominee’s fee covers the time and expertise needed to consult with you and establish your income and expenditure, assets and liabilities in order to put together the Trust Deed Proposal which is submitted to your creditors. The Nominee represents you from the beginning of your instructions to help you put a proposal to your creditors until the creditor’s meeting and, if the proposal is accepted, your Nominee becomes your Supervisor thereafter.

The Nominee’s fee can typically vary from £1,000 to £2,500 depending on your creditors agreement. This will be drawn over the first year of the arrangement (usually within the first five months).

If you are a sole trader, partner in a business or have complicated affairs, the Nominees fees may occasionally be higher – but we will explain the reasons for this if they are higher than as previously stated.

The Cost of a Trust Deed: Supervisor’s Fee
In addition to the above, following approval of the Trust Deed, a monthly Supervisor’s fee will be taken. The Supervisor’s fee covers the specialist work carried out throughout the duration of your Trust deed (normally a five year period) to ensure it is managed correctly and ethically. You will have appointed a Personal Supervisory Advisor who will manage the day to day running of your account who is qualified to help you should any changes to your circumstances affect your ability to pay your monthly Trust Deed contribution. Furthermore, your Supervisor will conduct annual reviews throughout your Trust Deed term to ensure payments are still affordable and to address any variations that may be needed.

The Supervisor fees are never more than a maximum of 20% of all the contributions you make over the period of the Trust Deed, taken monthly, in fulfillment of the supervisory role.

The Cost of Trust Deed Advice
We don’t make any charge to you for any debt advice given prior to the Trust Deed being prepared, however if a Meeting of your Creditors has been arranged and you decide not to proceed, our partners reserve the right to charge you £250 to recover costs and disbursements that we have incurred. There are never any other charges whatsoever.

If, in the unlikely event your proposal is refused by creditors, we do not make any charge to you. We will suggest an alternative program to you which may be acceptable to your creditors at that time.