What are the IVA fees?

Last updated: 29th August 2013

As everyone’s circumstances are different, IVA fees will vary depending on the amount you can reasonably afford to pay and are agreed with your creditors. We’ll never charge you anything upfront and our fees will be included in your monthly contributions.

What do IVA fees cover?

IVA fees will cover:

  • Agreeing a personal monthly budget with you.
  • Drafting and preparing your agreement.
  • Holding a creditors meeting and presenting your case (please note, if your IVA is not accepted, you will not have to pay any fees).
  • Dedicated customer care team on hand to help with any queries/issues you may have at any time throughout your IVA.
  • Conducting annual reviews with you to ensure your agreement is running as planned.
  • Distributing your payments to your creditors.
  • Making any changes to your IVA should your circumstances change.
  • Working with your creditors on an annual basis to ensure that your IVA runs smoothly.

It is also worth noting that at Debt Free Direct:

  • We will never ask you for upfront fees. Our fees are all covered by the contributions you make to your IVA (monthly payments, surplus assets).
  • The nominee’s fee for setting up and agreeing the IVA with you and your creditors is normally a fixed fee. This will be taken before any payment is made to creditors. It is different for supervisor’s fees. These are normally on a percentage basis and spread over the duration of your IVA.
  • You will never be faced with any unexpected fees as we will always tell you what fees are involved and how they are calculated before you commit to an IVA.
  • Creditor Voting Agencies apply the same fee basis for all IVA providers (inc. Charities)