www.iva.co.uk

I would like to know what is the normal (Average) cost to enroll in a IVA plan.

the cost to you is nothing they take payment out of the monthly payments you make. Each companies fees vary and some ask you to pay a fee upfront but for the duration of the 5 yrs for ur iva you dont have to pay them direct

I am with Baines and Earnst and they asked for 2 lots of payments of what I can afford to pay the creditors each month. Split over 2 months. In thepry they said as it takes prob 2 months to set up and I stop paying the creditors I should have enough in my bank to paY them!
Still I am in the process of setting up, not yet confirmed so am not jumping for joy yet and saying they are a great one to go with .... yet[:I] will keep u posted!

Will those payments be refunded if your IVA isn't accepted by the creditors for any reason?

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No They have made me sign an agreemant to say they wont, but can put me on a debt management prog, But they said they are quite sure it wont get to that stage..[V] Even though I looked into other companies do feel a little worried, but we will see.

i always worry about up front payments, especially when non returnable, especially when you can set up a dmp with companies such as myvesta who do not charge a commission out of your monthly DMP payments as so many of these debt management companies do, have you tried shopping about to get a feel of what other companies think on your offer, nothing ventured nothing gained, you don't always have to go with the first company you come across, if you are paying them up front it doesn't give the company the incentive to get the iva through, this is my personal opinion, as they are already being paid for their services regardless.
kerri

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True thats what I was thinking, but I have gone ahead now, so if I get my fingers burned... I will have to learn another lesson...[|)]

Unfortunately there are some companies that will charge you an upfront fee which is non refundable if an IVA does not go ahead, most of these companies are also not involved in your IVA proposal in any way whatsoever as they merely gather your information and pass this on.

Anyone contacting any company regarding debt solutions should contact at least 3 companies before proceeding and do not pay anything until you are happy that the solution offered is best for you and not for them.

Jo Rolland
Debt Alternatives
www.debtalternatives.co.uk

I am not an advocator of "up-front" fees although I do recognise that there are some IVA companies who ask for this. I would do as Jo suggests and contact other companies regarding debt solutions.

Jo - go to sleep - its late!!!!!!

Sue

Ho Hum! Think I'll bang my drum!

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Hi Greg,

If you are looking for firms to contact take a look at our site. We maintain a list of IVA firms and IPs and publish client reviews of their services.

Most firms will not charge you an upfront fee.

Good luck finding the right solution for you.

Kind regards,
Terry Balfour
IVA.com

IVA.com - The IVA Comparison Site
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Use our IVA firm comparison tool to find best IVA firm for you:
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