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Debt Management fees

An Initial Fee is the set up cost of your plan, which is set at 50% of your first 6 months payments up to a maximum of £1400 with minimum of £240. Whilst you pay initial fees, available payments will be made to creditors as soon as is reasonably practical.

Thereafter a monthly fee of £38 will be charged subject to a maximum of 50% of the payment received.

On receipt of your first payment we will issue you with a key features document and estimated fees schedule. If for any reason you wish to cancel, we offer a 14-day cooling-off period from the date of said letter in which we offer a full refund of any fees which we have taken. Please contact your adviser to arrange the refund. We aim to issue refunds within 7 days.

To cancel your plan outside of the cooling off period - please contact customer support.

Distributions made to creditors

Distributions are made to creditors within 5 days of receipt of funds into your plan provided:-

the 14-day cooling off period has elapsed and;
we have the necessary information about your creditor accounts;
we have your signed Letter Of Authority to act on your behalf.

Initial fee

The Initial fee covers the work involved in setting up your plan, including:

Reviewing draft payment programme.
Preparing the financial statement.
Calculating reduced monthly payments.
Talking to your creditors and negotiating the terms of the management plan.

Monthly fee

This fee covers the month-to-month running of your plan, including:

Distributing payments to each of your creditors.
Handling correspondence from your creditors.
Any help or advice you need from our customer support team.
Putting together and sending your statements.
The fee also covers us reviewing your personal circumstances on a regular basis, or any other time your circumstances require it. If your situation has changed, we can talk to your creditors about adjusting your monthly payments accordingly.


Debt: £19,139 | Was paying: £534/month | Now paying: £200/month

Our client had separated from her partner and then found out she was pregnant. She was working but was still in her probation period so was not entitled to full maternity pay. Due to the two large changes in her circumstances, coupled with the increased expense of being a single parent with a new born, meant that her finances went out of control. She knew this couldn't continue and this was a realistic option for clearing her debts. A consolidation loan is not an option as she has nothing to secure it against and the debt is too large for an unsecured loan.
Fees: setup fee £600, monthly management fee £38.

Total fees payable* = (50% x 6 months x 200) + (£38 x 114 months) = £4932.

*Total Fees payable is based on the conditions that:

All interest is frozen by creditors
The client remains on the plan until all debts are cleared
The client's ability to make repayments remains constant and no payments are missed

IVA Fees Breakdown

Fees vary with the complexity of a case. This is an example for illustrative purposes, based on straight forward consumer IVA for a client, with £31,000 of unsecured debts on an IVA lasting 5 years and without equity in a property paying £300 per month. .

Nominee's fee (usually equivalent to first 5 contributions): £1,500
Supervisor's fee*: £2,475
Supervisors costs**: £600
Total returned to creditors: £13,625 (44%)
Total paid by borrower: £18,000 (58%)

*15% of further monthly payments once the Nominee's fee has been satisfied

** Bond fee £50, DTI Fee £15, plus other case dependent costs.

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