Fees Policy
All of the services we offer are profit seeking and all of our services are offered in return for payments from customers.
All fees quoted below are excluding VAT which is charged at 20%.
From time to time there may be the requirement to pay a fee to a third party to help us see your case through to conclusion. Examples of this would be a valuation fee or a fee to a solicitor. We would always make you aware of these at the outset.
There are providers of debt advice who do not charge fees. Details of these providers can be found on the Money Advice Service website.
Bankruptcy Solution
Our bankruptcy fees range from £1,000 to £5,000. The fee quoted will depend on the estimated level of work and complexity of the case. The fee quoted will be a flat fee. Our average bankruptcy fee is £2,814.04.
Factors that determine what we charge include:
- Whether it is a single or double bankruptcy ( husband and wife / or two spouses )
- Whether you are in business or employed
- Whether you own a property you wish keep
- Whether there are multiple properties you wish to keep
- Where you are based
- Whether your case is likely to remain with the Official Receiver or be allocated to a trustee
- Whether there is a secured lender or charge holder we need to keep at arm’s length and negotiate affordable repayment terms with
- Whether we believe there may be a second interview with the Official Receiver
- Once we have sat down and gone through a comprehensive fact find we will be able to determine the level of work and quote you accordingly.
IVA Solution
Our IVA fees range from £1,000 to £5,000. The fee quoted will depend on the estimated level of work. The fee quoted will be a flat fee. Our average IVA fee is £2,500.
Factors that determine what we charge include:
- Whether it is a single or joint IVA
- Whether you are in business or employed
- Whether you have individual and partnership debts
- Whether you own a home you wish keep
- Whether there are investment properties for us to help you keep or have excluded from the IVA
- Whether it is a deferred consideration IVA ( debtor sells business to a Ltd company formed by debtor and the monthly payments for the business are effectively the monthly contributions within the IVA )
- Whether we are looking to get a property excluded from the IVA on an equitable exoneration basis
- Whether there is a secured lender or charge holder we need to keep at arm’s length and negotiate affordable repayment terms with
- Once we have sat down and gone through a compressive fact find we will be able to determine the level of work and quote you our fee accordingly.
There are other fees relating to IVAs. The licensed insolvency practitioner you will use charges a “Nominee Fee” & a “Supervisors Fee”, however these come out of the monthly contributions or the one off lump sum payment you will make.
Negotiated Settlement Solution
Our initial fees range from £1,000 to £2,000. The fee quoted will depend on the estimated level of work. The fee quoted will be a flat fee. Our average Negotiated Settlements fee is £1,500. However with all of these types of cases included within this calculation there have been other elements of work for us to do for the client such as negotiating a time to pay arrangement with HMRC or assisting the client with secured lending issues.
Once we successfully achieve full and final settlements with your lenders we will charge you a % of the saving we negotiate. This % will depend on the level of debt you have and how many creditors you have. It is typically 15%.
Factors that determine what we charge include:
- Amount of creditors
- Whether there are non-consumer credit debts as well as consumer credit ones
- Whether there are issues we will be dealing with for you such as HMRC time to pay arrangements, advising you on company matters or assisting you with secured creditor matters
