IVA Cost & Fees


An IVA (individual voluntary arrangement) is not free. Legally you cannot set up your own IVA. The insolvency practitioner who will set up your IVA will charge a fee.

This fee is normally taken as regular instalments from the payments you make towards your IVA (debts). The fee is to cover the cost of the advice offered by the insolvency practitioner, the time spent putting together the legal aspects of the IVA and negotiating with your creditors, also managing the IVA once it is set up.

Is There An Application Fee Cost?

When you are choosing which insolvency practitioner to work with be sure to choose an insolvency practitioner who does not charge upfront fee’s like Money Support Group. We are one of the many companies that offer free debt advice and choose not to charge you upfront for our service

IVA Fee Breakdown

Nominee Fee

A nominee fee is charged as a cost to help set up your IVA, This cost includes preparing your IVA proposal and holding your creditors meeting to get your IVA approved. Depending on whether your creditors agree your insolvency practitioner can charge on average your first five monthly contributions or between £1,200 to £2,000 as a fee.

Your IVA can be rejected by your creditors on this occasion they may ask your Insolvency Practitioner to reduce the nominee fee before an IVA is approved

✔ Supervisor Fee

Once your IVA is approved, a monthly supervisors fee of 15% will be charged on all future realisations. The supervisor fee covers all ongoing cost of your IVA.

An Insolvency Practitioner will supervise your IVA for the duration of an IVA normally a 5 year period, act as a go-between making sure your IVA is sustainable and are there to help you with any potential changes in your personal circumstances

You will normally have a personal supervisor who will manage the day to day running of your IVA, furthermore, your supervisor will conduct a yearly review once a year throughout the term of your IVA

✔ Disbursements

Disbursement costs are paid to third parties, the cost covers essentials such as insurance, software and regulatory fees. 

Fee When Referred For An IVA By Courts

If the courts have referred you for an IVA during bankruptcy proceedings, you will have to pay a fee of £335 from your bankruptcy petition deposit to your insolvency practitioner. You cannot get Legal Aid to help with setting up an IVA.

Help With IVA Costs

You cannot get legal aid or grants to help set up an IVA

Do You Qualify?

Roughly how much unsecured debts do you currently have?

Less Than £6,000
£6,000 - £10,000
£10,000 - £20,000
More Than £20,000

What is your current employment status?

Full-time employment
Part-time employment
Looking for work

What country do you live in?

Northern Ireland

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** In most cases up to 90% of the debt can be written off with an IVA. The amount written off will depend on your circumstances, levels between 30% and 90% are realistic.


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