What will be the cost for IVA?

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Post by ask231 » Mon Sep 30, 2019 8:51 pm
What will be the cost for IVA?


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Post by Marty171 » Mon Sep 30, 2019 10:21 pm
it depends on the level of your debt, and the income you receive and your expenditure.
IVA Started 07/07/2017
F & F Accepted 06/09/2019
Completion Certificate 16/12/2019


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Post by Foggy » Tue Oct 01, 2019 6:52 am
Costs vary from firm to firm but come out of the agree monthly payment, so are not an extra burden to worry about.

Most these days are calculated on a percentage of the monies paid in, typically 15%, but some charge 20 - 23%. As well as this there will be a fee for setting up the arrangement, around £1500 - £2000, seems to be the norm, and disbursements.
Variation meetings during the IVA will add £300 - 500 a time.

A few firms, I believe, still cost out on a time spent basis (hourly rate) --- which is wholly unpredictable at the outset.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

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Post by Lisa Thomas » Tue Oct 01, 2019 9:20 am
Most or all of the costs tend to be paid from the assets and approved by creditors so the creditors are effectively paying the costs and their dividends are reduced accordingly.

Firms will vary so get more than one quote (and opinion).
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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