If you choose to enter a solution with us, you have the right to cancel the agreement at any point within the first 14 days and some solutions allow cancellation up to formal acceptance. If you do, you will receive a refund of any fees you may already have paid to us during that time.

We provide advice across all debt solutions. Where appropriate, and with your agreement, we may refer you to another company within our group to enter into a suitable debt solution.

Any debt solution that involves paying less than originally agreed will have an impact on your credit rating for a minimum of 6 years. We’ll talk you through all the pros and cons of each solution before you sign up for anything.

If you enter into a debt solution with us, there may be fees involved. As one of the longest-standing debt help providers in the UK, we promise our customers an excellent service, and we will always ensure our fees stay competitive.

We do not charge a fee for Debt Management Plans.

Individual Voluntary Arrangement fees

If you opt for an individual voluntary arrangement (IVA), you’ll need a qualified insolvency expert to set it up. With your agreement, we can pass you over to another company in our group who can help.

They will only charge you fees once your IVA has been accepted by your creditors. Fees are paid out of – not on top of – your regular affordable monthly payments.

Once your IVA has been accepted, the fees you pay will be:

1. a nominee fee
2. a supervisor fee
3. expenses

Nominee fee

This fee covers the professional costs and charges for arranging your IVA including:

•  preparing your IVA proposal – this sets out the proposed terms of your IVA and gives your creditors a detailed snapshot of your finances
• organising the creditors’ meeting where creditors can ask for changes to the terms of your IVA
   

Your creditors decide when the nominee fee is taken. They usually ask us to either:

• take the nominee fee before they start receiving payments towards your debts; or
• start taking the nominee fee from your third payment (they agree to accept smaller payments towards your debt until the nominee fee has been paid in full) 

Whichever option they choose, your regular monthly payment will stay the same.

 
Supervisor fees

The supervisor fee covers the costs of running your IVA. Typically, this fee is 15–18% of any money divided among your creditors. Money that goes to your creditors while you’re in an IVA includes:

• your regular monthly IVA payment
• any assets (e.g. the equity in your property, money from successful PPI mis-selling claims)  
• windfalls (e.g. an inheritance)

Your creditors set the percentage or amount that can be charged as a supervisor fee.

Costs

You will also cover other costs that are directly related to the running of your IVA (such as postage, insurance etc).

The total fees you’ll pay will be clearly set out in your IVA proposal. These fees must be approved, and may be changed before your proposal is accepted, by your creditors.

If your circumstances improve

If your circumstances improve during your IVA, the most you will pay is: 

• your original debt  
• any interest creditors would have charged if you hadn’t entered an IVA
• the fees agreed at the time your IVA was approved by your creditors

England and Wales

The administration fee to apply for Bankruptcy in England and Wales is £680, which is payable to the Insolvency Service via gov.uk. To apply for bankruptcy you will need complete an online application and submit this to the Insolvency Service where an adjudicator will then consider your application

Northern Ireland

You will need to apply to the High Court for your Bankruptcy and your local Citizens Advice Bureau can assist you with this process.

There are three fees that you will need to pay when you take your petition to the Court:

1. A fee of £525 towards the costs of administering your bankruptcy
2. The Court fee of £115 (this fee may be waived in some circumstances, the court staff will be able to advise you)
3. A fee payable to a solicitor relating to the Statement of Affairs which costs approximately £7.

You can only apply for a debt relief order (DRO) through an approved company. We are an approved company and don’t charge for our services.