What will be the cost for IVA?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1

ask231

User avatar
Posts: 2
Joined: Mon Sep 30, 2019 8:51 pm

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

Marty171

User avatar
Posts: 32
Joined: Sat Jul 20, 2019 12:18 pm

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

Foggy

User avatar
Forum Expert
Posts: 29626
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

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
http://foggy.blogs.iva.co.uk

Lisa Thomas

User avatar
Industry Expert
Posts: 7522
Joined: Wed Dec 03, 2014 10:26 am

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
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”