An IVA is structured so that your creditors agree how much fees are charged for setting up and supervising your IVA agreement. This fee is taken from the overall amount that you pay into the arrangement so you will never pay any more than your monthly payment.
For Example: If your monthly payment is £220 and the duration of your IVA lasts 60 months, you will only ever pay £13,200 (220 x 60). Any remaining debts will be written off.
Since the fees are decided and settled by your creditors, you only need to worry about choosing the right IVA provider who will give you the service you require
WARNING:
Never pay any upfront fees for an IVA. Some firms try to charge for advice and setting the arrangement up. NEVER pay fees unless an IVA arrangement has been setup on your behalf already. You should only ever pay fees for an accepted IVA proposal.
Apply for an IVA with us and we will tell you if an IVA is your best option
A fee is only payable where further services are requested. All fees will be explained in detail and discussed prior to commencement of any service or debt repayment plan. In the IVA our fees are included in your monthly payment to your creditors so you will not have to pay anymore than you can afford. More suitable debt solutions may be offered which may result in different fees applying and we will discuss those with you during your initial consultation. Read further information. Creditors may still contact you with promotional material or to fulfil contractual obligations to you but they should deal with us in all aspects relating to the outstanding debts.
Acceptance of your IVA cannot be guaranteed but we will do our best. You must meet certain criteria which will be discussed with National Debt Relief advisors. Where we put a client forward for an IVA we believe they have an excellent chance of being accepted. Debts will only be written off where a client has made an agreed payment for a fixed period. In return the creditors agree to write off the remaining balance. Typically, our clients average debt write off is between 60-70% of the debt. What debt you have written off will depend on your individual circumstances and is subject to creditor approval and completion of the IVA. Your credit rating may be impacted for up to six years from the commencement of you IVA. Homeowners may be required to introduce equity if available.
Phonecalls: Calls from a landline are normally free. Please consult your provider if you are unsure. Calls from a mobile may be subject to charges. If you get charged just ask us to call you back for free.