While all the debt advice we give is free, if you enter into a debt solution, a fee may be chargeable which is dependent upon your preferred debt solution and provider. Chargeable fees are paid by your creditors from the agreed contributions that will be paid by you to them during the term of your agreement.
If you’re a resident in England, Northern Ireland or Wales and qualify for an Individual Voluntary Arrangement, this will be provided by Creditfix Limited (part of the same group of companies as UK Debt Expert Limited) and separate fees will apply.
Fees differ for both Trust Deeds and the Debt Arrangement Schemes, which are solutions that are only available to people living in Scotland. Fees will be charged by the Carrington Dean Group Limited (part of the same group of companies as UK Debt Expert Limited).
| Solutions | Fees |
|---|---|
| Debt Advice | Free |
| Debt Management Plan (DMP) | Fees applicable (paid to your provider) |
| Debt Arrangement Scheme (DAS) | Free to set up (fees thereafter paid to your provider Carrington Dean) |
| Debt Relief Order (DRO) | £90 administration fee (paid to Insolvency Service) |
| Bankruptcy | £680 administration fee (paid to Insolvency Service) |
| Individual Voluntary Arrangement (IVA) | Fees applicable (paid to your provider Creditfix) |
| Trust Deed | Fees applicable (paid to your provider Carrington Dean) |
It's important to ensure you're armed with all the facts before entering a debt solution.
While debt solutions can be a positive way to manage what you owe, there are factors to consider before you continue.
Every debt solution, both formal and informal, comes with advantages and disadvantages so it's important to make sure you're aware of these before making any decision about your financial future.
All considerations will be discussed by an expert to ensure you're fully informed, however, you can find out more about both the advantages and disadvantages of all solutions here.