If you are not confident in what you are being asked to sign, you should not sign anything just yet. £96 a month is quite low for an IVA. Are you sure it's not a Debt Management Plan?
If you are not comfortable get a second opinion from an insolvency firm or even the CAB. An IVA is not a con and IP firms do wish to make profits but not sure if your company is an actual insolvency practice.
The firm do get fees for their services, which are deducted from the monthly payments. I think Swift are introducers, not the insolvency firm themselves --- they will pass you on to another firm for the actual IVA.
I would suggest chatting to several firms, as they do all operate a little differently, although there are not many that would operate an IVA much below a payment of £100 a month ( you could find that the term in increased to 72 payments at the creditors meeting).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
