As part of the process of setting up an IVA, we will assess your income and expenditure. This will help us ascertain your monthly contributions into the arrangement, ensuring that you can afford them and giving your arrangement the best possible chance of success.
The monthly payments that you make into your arrangement will cover the payments to your creditors as well as the Nominee’s and Supervisor’s fees involved in an IVA. These fees will not affect your monthly payments, as by agreeing to the terms of the IVA your creditors agree to accept a lower return from the arrangement. This means that the payments remain affordable for you.