> Home
  > IVA Expert   > FeedBack   > IVA in 7 Steps   > About Me   > Media Coverage
  > Contact Me  
Please click here to watch Melanie Giles Introduction video.

Testimonials:
“…we met Melanie face to face and realised instantly that we were in safe hands…”
Laura C, London
“The service I received was excellent, thanks so much”
Gemma K, Brighton
“I would recommend Melanie Giles to anyone”
Darren C, Bristol
“I found Melanie to be a very thorough and detailed professional…”
Graham B, Midlands


MelanieGiles.com is recommended by IVA.co.uk
See MelanieGiles.com postings on the
IVA Forum
What are the costs of proposing an IVA?

The costs of proposing and administering an IVA have to be agreed by you and your creditors. These costs are usually drawn down from the monies you pay into the IVA, and it would be unusual for you to be asked to pay anything prior to your IVA proposal being finalised.

There are two fees which are chargeable during the presentation and management of an IVA:

Nominee's Fee
This is agreed by you prior to the presentation of your proposals, but can often be later amended by creditors. For this fee we will:-
• Provide you with advice regarding the range of solutions available to you
• Gather up all of the documents we need to confirm your financial position
• Liaise directly with your creditors with regard to your repayment proposals
• Assist you with opening a new bank account should this be required
• Prepare your IVA proposals and present these to creditors
• Convene and chair your creditors meeting

Our nominee's fees at melaniegiles.com generally range from £750 to £2,500 and average at around £1,600 plus VAT.

Once your IVA has been accepted, our role then changes from Nominee to Supervisor.

Supervisor's Fee
Depending upon the nature of your case, and the amount of work we deem is necessary on an ongoing basis, we will either charge our fees on a fixed annual sum, or as a percentage of realisations or sums distributed – usually at 15% plus VAT. In reality, it is most likely that your creditors will actually set the level of fees they feel are reasonable for each case. For this fee we will:-
• Collect your contributions into a unique bank account held in your name
• Agree all creditor claims
• Distribute the monies held to creditors usually at quarterly intervals
• Assist you with ongoing wage reviews
• Review your circumstances at least once per year, and more often if you run into difficulties
• Assist you in presenting any variation proposals to creditors
• Conclude your case at the end of its terms and issue you with a Completion Certificate

At melaniegiles.com, our supervisory fees generally range from £360 to £1,000 per annum and these are drawn from the monies you introduce into the IVA with the agreement of your creditors.

Protected Trust Deed Fees

The IVA Advice Company Limited refers protected trust deed cases to Philip Gill & Co (Scotland) Ltd. This is a company connected to us by common ownership.

Philip Gill & Co (Scotland) Ltd will charge a fee for setting up and administering your trust deed. This work includes (but is not restricted to): an initial meeting with a client or clients, post-meeting review and confirmation of options, preparation of trust deed document for signing, signing meeting, data input of details, advertising the trust deed, circularisation of correspondence to creditors, continuing correspondence with creditors and client as required, receiving and adjudicating creditor claims, review and realisation of assets where required, current status updates, statutory reporting to creditors and the Accountant in Bankruptcy, pursuing claims as required, preparing and distributing dividend payments to creditors, obtaining both the client's and the Trustee's discharge from the Trust Deed.

The fees charged by Philip Gill & Co (Scotland) Ltd will depend on your individual circumstances. They will be paid before any money is available to repay your creditors. Their fees (net of VAT and outlays) normally range between £2500 and £4500.

Debt Management Fees
Melaniegiles.com refers debt management cases to Vincent Bond & Co Limited. Where a visitor to melaniegiles.com chooses to proceed with a debt management plan provided by Vincent Bond & Co limited, no referral fees are paid by Vincent Bond & Co Limited to melaniegiles.com.

Where Vincent Bond & Co Limited provides a debt management plan the details of their charges will be provided to the client in advance of their commencement with the plan. Typically the charges will include an Initial Fee (at the start of the DMP) and a Monthly Fee (for the remainder of the DMP). The Initial Fee covers services including compiling financial and background statements, providing repayment proposals to creditors, responding to creditor contact by telephone and in writing, and attempting to negotiate arrangements with your creditors on your behalf. The Initial Fee will typically be either one or two monthly payments depending upon the amount of your monthly payment (one month where monthly payment is £250 or more, two months where the payment is less than £250 per month). The Monthly Fee will typically be 18% of the monthly payment (subject to a minimum of £25 per month and a maximum of £100 per month). The Monthly fee covers ongoing communication with creditors and the client and the distribution to creditors of payments.

Media Coverage:


  Accountancy Age
"Insolvency stats miss full scale of debt, claim practitioners"
08-May-2008 - Online
 


  Management Consultancy
"Insolvency stats miss full scale of debt, claim practitioners"
08-May-2008 - Online
 


  Debt Management Today
"IVA or Bankruptcy? IVA.co.uk Debt Debate Weighs Up Insolvency Options"
23-Apr-2008 - Online
 


  Accountancy Age
"Helping the helpless?"
17-Apr-2008 - Print
 


  Business Credit Management
"IVA or Bankruptcy? IVA.co.uk Debt Debate Weighs Up Insolvency Options"
09-Apr-2008 - Online
 

Credit Rating | Debt Help In Ireland |Fees | Complaints Procedure | Privacy Policy | Other sources of help | IVA Protocol Terms and Conditions | Disclaimer
© IVA Advice Company Limited, Registered in England and Wales Company Number 6060800,
Data Protection Registration Number Z2067386.
Consumer Credit License Number 643358.

Please note that telephone calls may be monitored or recorded