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All fees and outlays incurred during the administration of your IVA are met from the realisations made from your income contributions and/or assets. You do not have to pay additional fees or charges.


IVA For You, will introduce you to a IVA provider who will charge a fee for their services if you decide to go ahead with a IVA. There will be no charge for our advice if you choose not to go ahead with a IVA. Following advice from your introduced adviser, if you choose to go ahead with a IVA then we will pass a completed fact-find and supporting documentation to an Insolvency Practitioner who will then contact you and prepare the relevant legal paperwork for you to sign your IVA. The Insolvency Practitioner (or his employer) will pay a fee to your IVA for the work we carry out prior to you making the IVA proposal. This fee will be approximately £1,000-1,500. If your IVA is administered by your IVA, an associated company of SFP, there will not be a fee paid from Smarter Leads to SFP. You are not required to pay SFP any sums over and above the sums paid to us by your Insolvency Practitioner. Please click here to read our FAQs for further information relating to the IVA process.

Your Insolvency Practitioner will also charge a fee for their services. All fees and outlays incurred during the administration of your IVA are met from the realisations made from your income contributions and/or assets and are exempt from VAT. Your Insolvency Practitioner will provide further information regarding their fees and the work they are required to do before you agree to proceed with a IVA. The illustration below details the fees and outlays that may be involved in the administration of a IVA.


The structure of your Trustee's fee is determined by the legislation which governs IVAs. The fee will consist of:

(a) A fixed fee, typically £2,500 for a 4 year IVA.

(b) An additional fee based upon a percentage of the total assets & contributions realised by the Trustee, typically set at 20%.

(c) Outlays incurred after the date the IVA was signed (detailed below).


The total fee will be advised to creditors in the IVA proposal. The fee will be drawn by your Trustee periodically throughout the period of your IVA and is subject to approval by you and your creditors. If you or your creditors are unhappy with the level of the fee then you are able to request an audit of the fee by the Accountant in Bankruptcy (the government agency who supervises IVAs). The Accountant in Bankruptcy will then complete their audit and charge a statutory fee of 5% of any fees and outlays fixed for auditing such accounts, thereby reducing the funds available for distribution to creditors.

The fixed and additional fees are based on the following work being required to setup your IVA and administer it through to its’ conclusion. Your Trustee along with suitably qualified members of his staff will undertake these tasks (this list is not exhaustive);

The required number of meetings (by telephone or at your home, our office or another suitable place) to give you advice prior to you deciding a IVA is the appropriate debt solution for you.

Preparation of the IVA proposal.

Complete the necessary work to have your IVA registered as ‘protected’.

Liaising with you, your creditors, the Accountant in Bankruptcy and any other third parties relevant to your case e.g. property surveyors, secured creditors etc.

Monitor payment of your monthly income contributions.

Realise any assets with a value to your Estate.

Re-assessing your circumstances if they change during the term of the IVA and reporting this to creditors where necessary.

Conduct an annual review of your income & expenditure.

Send an annual report to your creditors updating them on the progress of your IVA.

Adjudicate on creditors’ claims.

Pay a dividend(s) to your creditors.

Generally ensuring that the IVA performs satisfactorily for you and for your unsecured creditors.

Complete the necessary work to grant both your discharge and the Trustee’s discharge from the IVA.


Every IVA also has statutory and non-statutory outlays to pay, the non-statutory outlays vary from firm to firm, examples of a IVA’s outlays are listed below:

As such, the following is an example of the costs of a typical IVA:

Note: It is essential that you maintain your agreed monthly contributions into your IVA. If at any point during the term of your IVA you feel you can no longer afford the payments agreed, you must contact your Trustee or their staff to discuss.

Contacting us to discuss any payment difficulties you are experiencing or changes in circumstances is essential, IVAs do provide an element of flexibility, you may be allowed to have a payment break if you come up against unexpected costs (such as essential home repairs) or your Trustee may be able to review and amend your contribution to suit your changed circumstances.

If you fail to keep up with your agreed contributions and fail to contact your Trustee to discuss, your Trustee may contact your employer to have your contribution paid directly from your salary. Alternatively, your Trustee might refuse your discharge from the IVA, leaving you liable for payment of your unsecured debts at their original contractual payment level. Lastly, in some cases, you may be sequestrated (made bankrupt) by your Trustee for failing to comply with the terms of your IVA.

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