How much does an IVA cost?

  • There is no application fee when applying for an IVA with Money Advice Helpline.
  • All information and support we provide during the IVA process is completely free of charge.
  • No upfront fees are required, and in the event that your IVA application is rejected, there will be no charge.

If you decide an IVA is the best option, we will put together a proposal to your creditors free of charge, and complete details of all costs will be included in your IVA proposal.

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*Please note all Insolvency Practitioners have costs and fees for administering IVAs. Still, as one of the UK’s leading providers, we promise excellent service, and we will ensure everything from considerations to fees are explained clearly and adequately. Money Advice usually proposes a fixed IVA fee agreed by your creditors and is usually spread evenly throughout the term of the IVA, for the work carried out by a licensed Insolvency Practitioner.  However, you will not be responsible for paying this fee.

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What will I pay for an IVA?

You will only pay your first penny if your creditors accept your Individual Voluntary Arrangement (IVA), and your monthly payments cover all IVA costs and fees.

During your free consultation with us, we will gather details about your financial situation so that we can decide on a figure that works for you, together. For an idea of what you might pay for an IVA and how much you could write off, try using our free online IVA calculator.

IVA Calculator

What fees are involved in an IVA?

All fees are paid out of – not in addition to – your regular, affordable monthly payments. Once your creditors accept your IVA, the fees involved are:

Nominees Fee

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

  • Preparing your IVA proposal, which sets out the proposed terms and provides your lenders with a detailed snapshot of your finances.
  • Organising the creditors’ meeting, in which lenders can request changes to the terms of your IVA.

It will typically be between £1000 and £2700 and is often capped to an amount equal to your first 4-6 months’ IVA payments.

The Nominee’s fee will be covered before any payments are made to your lenders.

Supervisors Fee

This covers the administration work involved in running your IVA and is calculated as a percentage of the money you pay back. Typically it is charged at 15–18% of any money being paid back. It covers:

  • Ongoing costs such as your monthly
  • Annual Reviews of your IVA