Further Information about our services

We provide free debt advice and will only charge a fee when you opt for one of our debt solutions. The fees for the services we provide are different depending on which debt solution we provide.

All fees will be explained in detail and discussed prior to commencement of any service or debt repayment plan.

IVA fees

Fees incurred for IVAs (Individual Voluntary Arrangements) vary depending on the monthly contribution to the IVA and the agreement that is reached with your creditors and what they allow us to take as a fee. Fees are made up of Nominees fees relating to assistance given to prepare your proposal and Supervisor fees which relate to the ongoing monitoring of your IVA. Fees are drawn from your monthly contribution or other assets which form part of your proposal. The level of fees and the method of payment are both agreed by your creditors at the outset of the arrangement.

Upfront fees

We do not charge any upfront fees in our IVAs. Payments are only made if and when your IVA is agreed by your creditors. If for any reason whatsoever your IVA is not accepted by your creditors you will have nothing to pay. We will also help to find you an appropriate alternative if this is what you wish.

The fees payable in an IVA come from your monthly payment. Your monthly payment will be a figure you can afford. This money all goes into your personal client account and is then distributed to creditors as defined in the proposal. Our fees are also paid out of the same account as agreed with your creditors who set our fees at the beginning of the arrangement.
The fees are defined as Nominee and Supervisor Fees

Nominees fee

This a fixed fee that will cover the work that goes into setting up your IVA:

  • Creating your IVA proposal. This is the document which must be approved by enough of your creditors for your IVA to start. It defines the proposed terms of the IVA: how much you would pay, what each creditor would receive, etc.
  • Setting up the creditors meeting. This is when your creditors will formally approve your IVA proposal, reject it, or request changes to it.
  • Assessing any suggested changes. If any creditors have requested changes to your IVA proposal, your IP will advise you on whether you should accept those changes - or consider a different approach to your debt problems.

Your first few monthly payments (depending on what you have agreed with your creditors) will go towards paying the nominees fee before your creditors receive any money.

Supervisors fee

The supervisors fees will cover the ongoing supervision and maintenance of your IVA all the way through. A typical IVA lasts for five years, but it could be more. This fee covers the costs of

  • Your Relationship Manager who will deal with any day-to-day issues that arise, ensuring your IVA runs smoothly.
  • Your Insolvency Practitioner (IP) who will carry out regular reviews of your IVA and address any more serious issues that come up - if, for instance, your financial situation worsens, and you need your IP to arrange an IVA variation (a legally binding change to the terms of your IVA, designed to help you bring the IVA to a successful conclusion).

Again, these fees are set and agreed by your creditors and come out of your monthly payments. You will not have to pay any more than what you can afford.

Note: Keeping up with your monthly payments in an IVA is vital - if you fail to, your IVA may fail, leaving you liable for the remaining balance and any costs already incurred. If you do experience any difficulties with your IVA payments please contact your case supervisor as soon as possible.

Our IVAs are provided by our insolvency Practice, McCambridge Duffy who are licensed to carry out Insolvency activities.

Cancellation Policy

IVA

An IVA can be cancelled at anytime before the IVA agreement commences. An IVA is deemed to have commenced upon acceptance of your proposal by creditors.

After this stage it cannot be cancelled. It will only terminate where you are in breach of the terms of the agreement, for example; where you miss agreed payments as set out in the arrangement.

  • First Class. I was in was in a mess with my debts, but the way they sorted out all my problems and made life less stressful was great. The service and speed in which they sorted my IVA was superb.

    . . .
    Andrew
    via TrustPilot

  • From the first phone call I found the staff so helpful and supportive. The staff that I dealt with were very professional and knowledgeable. I would highly recommend this company.

    . . .
    LN
    via TrustPilot

  • From start to finish i have been supported and made to feel secure in the knowledge they know what they are doing, answering any questions and making sure I understood all aspects of the agreement.

    . . .
    Kas
    via TrustPilot
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In the UK, consumer credit activities are covered by the Institute of Chartered Accountants in Scotland, Group Licence number G/900011

ivanorthernireland.co.uk is owned by McCambridge Duffy who are one of the leading insolvency firms in the UK and Northern Ireland. McCambridge Duffy provide IVAs and other Insolvency solutions. On our site you will find information on debt solutions, both formal and informal. We provide this information so you have a clear overview of the options available for dealing with your debts. We do not offer informal debt solutions, so if an insolvency solution is not your recommended course of action, we will, with your permission, refer you to an appropriate provider that can assist you further.

All advice is free and confidential and we do not charge any upfront fees for our services. A fee is only payable where further services are requested. All fees will be explained in detail and discussed prior to commencement of any debt repayment plan. Repaying debt over a longer period may increase the total amount to be repaid.