Insolvency rule changes to cut practitioners fees

[IVA News]

Insolvency rule changes set to cut practitioners’ fees

The Insolvency Exchange will announce on Wednesday big changes in the criteria to be met by insolvency practitioners proposing agreements for over-indebted consumers.

The changes are expected to result in an average fall of about 20 per cent in the fees received by the insolvency practitioners. This, in turn, will have an impact on the Aim-listed companies – such as Debt Free Direct, Debtmatters and Accuma – that specialise in providing the agreements, known as IVAs (individual voluntary arrangements).

Source: ft.com

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