Our Services & Fees

IVA Fees and Costs

Creditfix only charges fees if your IVA is approved by creditors.

These will be discussed in full throughout the application process, however, the below outlines our fees policy.

Our fees are taken from your monthly payments or any assets paid into the arrangement.

We operate with a clear, fixed-fee model. This includes the Nominee Fee, Supervisory Fee, and all associated costs and expenses for managing your IVA.

As part of your proposal, we aim to start distributing a portion of your payments to creditors within 30 days of your IVA starting, or from your first contribution—whichever is later. This helps reduce your debt from the outset.

In some cases, creditors may ask to adjust the fees. If they request a reduction, the Nominee or Supervisor will consider and respond as appropriate.

There are three main types of costs handled by the Insolvency Practitioner in an IVA:

 

Nominee’s Fee

This covers the setup of your IVA, including a review of your finances, preparing and issuing your proposal to creditors, managing the decision process, and handling any negotiations.

Many providers charge separate fees for each stage. At Creditfix, we include all necessary setup costs in a single fee.

 

Supervisor’s Fees

These cover the ongoing management of your IVA. That includes collecting and distributing payments, handling queries, conducting annual reviews, reporting progress, and closing the arrangement.

While some providers charge a percentage of the amount you repay, we use a fixed fee for the standard work. Any additional asset payments—such as windfalls or compensation—may be subject to a percentage-based charge.

 

Disbursements

These are payments made to third parties for required services, such as software, insurance, and legal registrations. They can also include specialist services aimed at maximizing returns for creditors.

Other providers may charge disbursements separately, which can delay payments to your creditors. We include these costs in our fixed fee, allowing us to start making payments to creditors early in the arrangement.