An Individual Voluntary Arrangement (“IVA”) is a formal, legally binding agreement between an individual and their creditors to repay a portion of their debts over a set period, typically 5–6 years.

An IVA is a debt solution under UK Insolvency Law, which requires creditor approval, and is often used as an alternative to bankruptcy.

There are three main stages to the IVA process which are outlined below.

1. Initial Advisory Stage – No Fee Charged

We do not charge any fees during the advisory stage. This stage is focused on helping you understand your options and involves:

• Gathering information about your financial situation;
• Reviewing your income, expenses, assets, and liabilities;
• Discussing all available debt solutions (not just IVAs); and
• Providing tailored advice based on your individual circumstances

This is a no-obligation service, and you are free to decide how to proceed based on the information we provide.

2. Nominee’s Fee

The Nominee’s Fee typically ranges between £1,500 – £5,000, depending on the complexity of your circumstances and the work required.

This fee covers:

• Preparation of your IVA proposal;
• Liaising with your creditors; and
• Convening the creditors’ meeting.

This fee is drawn from the contributions you make into the Arrangement and not paid upfront.

3. Supervisor’s Fee

If your IVA is approved, we will act as Supervisor of the arrangement.

The Supervisor’s Fee is typically calculated as a percentage of your monthly payments, commonly 15% – 20% of the contributions received into the Arrangement.

This fee covers:

• Implementing the terms of the Arrangement;
• Receiving and Distributing payments;
• Monitoring your financial circumstances on a yearly basis;
• Reporting to creditors; and
• Completion of the Arrangement.

Important Notes

All fees are subject to approval by your creditors as part of the IVA process.

We are fully committed to transparency and will explain all fees to you in writing before you proceed.