www.iva.co.uk

Please can you tell me what the average cost to set up iva agreements are and would the charges have te be paid in advance ??

It will depend upon the firm you decide to appoint to represent you, but a lot of IPs will not charge you any monies up front as they are paid out of the monies you will be paying into the voluntary arrangement once it is set up. You may be asked to make a first contribution prior to the creditors meeting as a gesture of goodwill.

Hi john.jk

As Melanie says the fees come out of your contributions, I paid no upfront fees just one months payment in advance of my creditors meeting to show my comitment to the arrangement.

Have a look on www.iva.com for reviews on companies although in my opinion you can do no better than Melanie Giles (replied above).

If any company wants to charge upfront fees I would ask why and will they go into your iva if its approved and be refunded if not.

Good luck
Emma

I also wanted to say not to chose an IP based on the fees they charge, it is much more important to get good advice and feel confident with your choice of IP.

The creditors can always Modify the IP fees at the creditors meeting if they feel they are excesive - personally I did not even ask about fees. It was much more important for me to feel I was being properly advised x

There is no set right and wrong way but the key is that if you do make payments in advance of the creditors meeting then they should be refundable in the event of non acceptance.

Regards.