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IVA Fees:

An IVA can only be prepared for you by a qualified licensed insolvency practitioner, so there are inevitable professional fees. Fees are paid for from your monthly contributions to creditors, so you do not need to make any other payments besides your monthly IVA contributions, however savings or other assets of high value will need to be realised along with a review of your assests in an agreement of what will be included and what wont be included.

Your insolvency practitioner will keep your IVA costs low by collecting much of the required information from you and by using their tailor-made automated procedures and specialist administrators to process cases.

They earn their fees, like other IVA companies, in two ways:

1. The nominee fee (the fee for putting together the proposal and presenting it to your creditors) for a simple IVA is a fixed fee and will be laid out in your IVA proposal document. If you are a sole trader, partner in a business or have complicated affairs our fees may occasionally be higher – but your insolvency practitioner will explain the reasons why they are higher than the standard fees – this still will not alter the payment you make.

2.Supervisor fee: (the ongoing fee for managing your plan and liaising with your creditors) This fee will depend on your debt level and circumstances but your insolvency practitioner will always lay out these fees in your IVA proposal document so that you are aware of all fees ahead of entering your IVA.

Trust Deed Fees:

The fees are case dependent and also depend on how much you can pay your creditors each month. Your Insolvency Practitioner will charge a fee to administer and manage your case. This fee will be deducted from your monthly contribution before it is disbursed, meaning no additional payments will be required.

DAS Fees:

Applying for a DAS is free and can be done via your local Citizens Advice Bureau (CAB). Fee-charging organisations can also help you set-up a DAS and offer monthly management of your scheme, which often involves a set-up fee to administer your DAS, followed by a monthly management fee.

Debt Management Plans:

If we feel that a Debt Management Plan is a suitable option for you, KAR 7 Limited trading as Debt Wave will advise you on the free charitble organisations and the fee charging companies. All preferred financial solution providers for Debt Management Plans are Authorised and Regulated by the Financial Conduct Authority.


The arrangement is flexible and can be changed to accommodate your changing circumstances

The creditors may freeze interest and fees when advised that you have been in contact for help with your finances

Your creditors will usually stop contacting you and deal with your provider on your behalf

You can exit the plan at any time, or change solution if there is another option which is available and suitable for you

You will make just one payment each month rather than having to manage payments to all of your creditors

You will be assigned a dedicated account manager so you have a consistent point of contact

You will receive a monthly breakdown of payments received and payments made on your behalf so that you can see how your money has been distributed


You will pay a fee for the service. There are companies which can do the same job for free. You can get more information by visiting the Money Advice Service

Your creditors do not have to agree to the repayment, or to freeze interest and charges.

Your credit rating will usually be impacted because you will be paying reduced amounts to each creditor.

Creditors may continue to chase should they wish to continue to take legal action to recover the debt.

Our preferred financial solutions partners are Authorised and Regulated by the Financial Conduct Authority.

Free debt advice is also available from The Money Advice Service an organisation set up by the Government to offer free and impartial advice to those in debt  CLICK HERE  for more information.

What fees are charged and why...

Debt repayments will be based on what you can realistically afford to repay. To learn more about the fees involved,  CLICK HERE for more information.