Our Service is Free
Neither IVA Information or its parent company Wilmott Turner Financial Services will charge you for any of the advice we provide or for any work we undertake in assisting you in producing your Statement of Affairs or the drafting of your IVA proposal.
Insolvency Practitioner Fees
Once your IVA is accepted the Insolvency Practitioner will then charge fees. However you do not have to pay these directly. They are taken from the agreed payments that you make into your Individual Voluntary Arrangement. A description of these fees is given below.
Insolvency Practitioner Nominee Fee
The Insolvency Practitioner who presents your IVA proposal to your creditors is called the your Nominee. The work of the Nominee includes:
– An initial meeting (normally on the telephone but could be face to face) to fully understand the details of your income, expenditure, assets and income
– Gathering supporting documentation and preparing your Individual Voluntary Arrangement proposal document
– Liaising with your creditors if necessary
– Convening the meeting of your creditors, chairing the meeting and again liaising with creditors on any queries or modifications they request
The Nominee Fee charged for this work is normally £1000 although this could be more in certain circumstances.
Once your Individual Voluntary Arrangement is accepted the Insolvency Practitioner will pay Wilmott Turner an amount equivalent to 75% of the agreed Nominee Fee for our assistance with drafting your IVA proposal. This cost is paid by the Insolvency Practitioner and is not an additional cost to you.
Insolvency Practitioner Supervisor Fees
The Insolvency Practitioner who manages your Individual Voluntary Arrangement for its duration is called your Supervisor. The work of the Supervisor includes:
– Monitoring the contributions you make into your Individual Voluntary Arrangement
– Making payments to your creditors as required (monthly, quarterly or annually)
– Generally monitoring the progress of your IVA in accordance with the proposals
– Carrying out an annual review of your case (or at intervals required by your creditors)
– Working with you to manage any changes in your financial circumstances
The Supervisor Fees charged for this work are normally based on 15% of the amount that you pay into your IVA after the Nominee fee and initial costs have been deducted.
Who we are and how to contact us
IVAinformation.com is a site operated by Wilmott Turner Financial Services Ltd (“We”, “Us”, “Our”). We are registered in England and Wales under company number 6925024 and have our registered office at 74 Willowbrook Road, Southall, Middlesex. UB2 4RH. Our main trading address is 116 Springfield Road, Windsor, Berkshire. SL4 3PS.
We are regulated by the Financial Conduct Authority (FRN 667740).
To contact us, please email enquiries@wilmott-turner.co.uk or telephone our customer service line on 0800 088 7376
We are a commercial (fee-charging) debt management company.