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IVA Example

This example is based on a typical client - a consumer with approximately £24,000 of unsecured debts who completes an IVA lasting 5 years and has no property.

Based on unsecured debts of £24,000

Based on a Monthly contribution of £250

Total paid over 60 months £15,000

Fees

Typical Nominee's Fee: £1,250 drawn at £250 per month for the first 5 months.

Typical Supervisor's: £2,062.50 drawn at £37.50 per month from month 6.

Total estimated Fees: £3312.50

All fees excluding the IVA Assessment fee are inclusive of the total amount repayable (£15,000)

IVA Assessment Fee: £250 (Retained by 123 Debt Solutions Ltd).

IVA Assessment Fee

This assessment fee is based on the information you provide to our advisers, and is equal to your monthly disposable income (after priority debts and living costs).

The IVA assessment fee will not be passed to your creditors or go towards the IVA itself.

On receipt of this fee your case will be processed and passed over to our Insolvency Practitioner who will then take responsibility for preparing your IVA.

IVA's can only be administered by a licensed Insolvency Practitioner (IP) who is qualified.

All IVA's offered by 123 Debt Solutions Ltd will be administered by Pareto Money Management Ltd or a trusted third party.

Pareto Money Management Ltd is authorised by the Insolvency Practitioners Association and is a member of the Association of Business Recovery Professionals, known as R3.

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