IVA FEES AND POLICY

Introduction

This policy outlines the fees associated with Individual Voluntary Arrangements (IVAs) provided by UK Debt Support, a trading style of SLWB Ltd. Our goal is to ensure full transparency in how fees are charged and how they impact clients’ payments.

Purpose

The purpose of this policy is to:

Clearly communicate the structure of IVA fees to clients.
Maintain transparency and fairness in our fee practices.

Fee Structure

IVA fees are agreed with creditors and deducted from the client’s payments before distributions to creditors. In most cases, IVA fees are set at £3,650 under the standard fee model, but variations may apply depending on the complexity of the case.

Standard IVA Fees (£3,650 Total)

Under the standard model, the IVA fees typically consist of:

Nominee Fee: £1,600 – Covers the cost of setting up the IVA, including drafting the proposal, negotiations with creditors, and arranging the creditors’ meeting.
Supervisor Fee: £1,750 – Covers the ongoing management of the IVA, including case administration, distributing payments to creditors, reviewing clients’ financial circumstances, and handling creditor communications.
Disbursements: £300 – Covers essential administrative costs such as the case management system, insurance, and regulatory compliance.

Alternative Fee Model (Subject To Creditor Approval)

In some cases, an alternative fee model may be used where:

The Nominee Fee is between £1,000 and £2,000, depending on case complexity.
The Supervisor Fee is 15% of realisations (payments made into the IVA).
Disbursements may vary between £300 and £1,000 based on case-specific requirements.

Impact on Client Payments

IVA payments made by clients are allocated to the agreed fees and creditor distributions.

The structure ensures that payments remain affordable while meeting creditor expectations.

Fee Adjustments

If a client’s financial situation changes significantly, a variation may be proposed to adjust client payments, which could affect fee calculations.

Any changes to fees require creditor approval.

Regulatory Compliance

UK Debt Support, ensures that all IVA fees comply with the Insolvency Practitioner Association and industry guidelines.

Clients receive a full breakdown of fees as part of their IVA documentation before entering the IVA.

Client Transparency and Support

Annual reports ensure ongoing transparency.

UK Debt Support, is committed to offering guidance and support for any concerns related to IVA fees.

Complaints and Disputes

Clients and creditors may raise concerns about fees through UK Debt Support, formal complaints procedure, which can be found via the website.

Review

This policy is reviewed annually to ensure continued compliance and fairness.

What Our Clients Say About Us

"They really helped me get out of a massive hole of debt I was falling worse into I can't thank them enough for helping me I feel so much beta and can sleep now without worrying what's going to happen"

“I felt a lot of pressure had been taken off me once I had spoken to them. They kept me upto date every step of the way during my Iva set up and I was able to call anytime I needed advice.”

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"Brilliant service. Very understanding to my needs. Plenty off options to choose from and good that they recommend the best one for you. Such friendly and helpful staff. Couldn't ask for a better service."

"I received a great service and the staff are extremely helpful and nothing was an issue I gave also emailed a few times through the docs link and had reply within 24 hours on what I needed to do. Great Service"

"Everyone that I spoke to regarding my case was extremely kind, considerate and patient with me. The level of empathy that was displayed eased my anxiety and helped to reduce my stress levels regarding my situation."

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Email us – Enquiries@advicecentregroup.co.uk

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UK Debt Support is a trading style of SLWB LTD (Company No. 16451543).
Registered Office: Second Floor A, Cheadle Place, Cheadle, Cheshire, England, SK8 2JX.

Adam Southard is authorised as a Licensed Insolvency Practitioner in the United Kingdom by the Insolvency Practitioners Association, We only provide advice after completing or receiving an initial fact find where the individual(s) concerned meet the criteria for one of our insolvency solutions, therefore, all advice regarding Individual Voluntary Arrangements (IVA) is given in reasonable contemplation of an insolvency appointment.

Adam Southard is licensed to act as an Insolvency Practitioner in the UK by the Insolvency Practitioners Association. Office Holder No. 11930

Insolvency Practitioner Directory- Insolvency Practitioner Details (bis.gov.uk)

What you need to know about Individual Voluntary Arrangements
(Insolvency Service)

We provide solutions to individuals throughout the UK, We Will help recommend solutions available to your circumstances in which you can then make an informed decision about which solution you qualify for is best for you and your circumstances.