Important Information

Turn Debt Around Fees

To give you an idea of the fees you may pay, we’ve given a summary table of all what to expect for each debt solution that is provided via Turn Debt Around. You may click the relevant headers to view the information.

We have explained how Debt Management Fees are calculated and included Terms and Conditions for you to view. We have also given examples for Individual Voluntary Arrangements and Protected Trust Deeds fees and how payments may work.

Turn Debt Around provided solutions

At Turn Debt Around we do not charge for advice, however, there may be costs associated with the solutions we recommend via our sister companies Fresh Start UK and Invocas Financial. We may also advise against using our services, if after an affordability assessment we see that it would be better for you to use a government or charity company.

Fees for Scotland

Scottish Debt Solutions overview and fees

When taking out a solution with Turn Debt Around sister companies Invocas Financial or Fresh Start UK
updated:Mar 2016

Protected Trust Deed

Sequestration

DAS
(Debt Arrangement Scheme)

DMP
(Debt Management Plan)
How much debt must I have?£5,000 +£3,000 +No minimum amount1500
How long will I be in the debt solution?Minimum 4 yearsMinimum 4 yearsDepends on the amount of debt you haveDepends on the amount of debt you have (ideally no more than 10 years)
How many creditors do I need to have?111From 2
Are there any upfront costs?No£200 application feeYou may be charged a fee for advice received from a DAS approved money adviserNone
What fees are charged?Fees are negotiated with your creditorsFees are dependent on assets and contributions realised and are approved by statutory processFees are capped at 10% plus any fee charged by a Continuing Money AdviserFees are charged evenly over the lifespan of the Debt Management Plan (from £30-£70 per month, see DMP fee table*)
Will anyone know I have a debt solution?It is unlikely but your Trust Deed is recorded on the Register of InsolvenciesIt is unlikely, but a notice will be recorded on the Register of InsolvenciesIt is unlikely but your DAS will be recorded on the DAS RegisterNo
Will I have to sell my home?You will need to release any equity. Failure to do so may result in a sale.You will need to release any equity. Failure to do so may result in a saleNoNo
Should my creditors continue to contact me about my debts?NoNoNoYes
Is there a minimum amount I will need to pay per month?No, any monthly contribution depends on what you can affordNo, any monthly contribution depends on what you can affordNoFrom £70

Fees for England and Wales

English & Welsh Debt Solutions overview and fees

When taking out a solution with Turn Debt Around sister companies Invocas Financial or Fresh Start UK
updated:March 2016

Individual Voluntary Arrangement (IVA)

Bankruptcy

Debt Management Plan
How much debt must I have?£6,000 +£750+£1,500+
How long will I be in the debt solution?Usually 5 years1 yearDepends on the amount of debt you have
How many creditors do I need to have?From 11From 2
Are there any upfront costs?No£525 Administration Fee and £180 Court Fee (£130 court fee from 1 April 2016)None
What fees are charged?Fees are negotiated with your creditorsFees are dependent on assets realised and are approved by statutory processFees are charged evenly over the lifespan of the Debt Management Plan (from £30-£70 per month, see DMP fee table*)
Will anyone know I have a debt solution?It is unlikely but your IVA will be held on The Insolvency Service register which is publically availableIt is unlikely but your bankruptcy will be noted in the London Gazette and will be held on the Insolvency Register which is publically availableNo
Will I have to sell my home?Depending on the amount of equity, you may be asked to release a percentage toward the end of your IVADepending on the amount of equity, you may be asked to release a percentage toward the end of your BankruptcyNo
Should my creditors continue to contact me about my debts?NoNoYes
Is there a minimum amount I will need to pay per month?No, but your monthly contribution depends on what you can affordNo, any monthly contribution depends on what you can affordFrom £70

DMP Fee Table

DMP Fee Table

A Monthly management fee is charged by Fresh Start UK for the Debt Management Service provided. This involves negotiating with your lenders on your behalf and managing your monthly payments to you them.

Fees as described below are based on the number of debts you are actively paying in your Debt Management Plan.

Debts on Plan
(Active only*)
Initial set up feesMonthly management feesCap on % of fees taken from distributable income
1-4none£3050%
5-8none£3550%
9-11none£4050%
12-15none£5050%
16-20none£6050%
21+none£7050%
Fees associated with Debt Management Plan taken out after Jan 2016 with Turn Debt Around and managed by our sister company Fresh Start UK

Turn Debt Around and Fresh Start UK Debt Management Plan Terms

IVA Fees

IVA Fees

An insolvency practitioner will charge fees for their role as the nominee and as the supervisor. A separate fee is payable for the insolvency practitioner’s work in each of these roles. An insolvency practitioner will also charge you for various additional expenses, known as disbursements.

Nominee Fee

The nominee fee is a fixed fee and covers the insolvency practitioner’s work in setting up the proposal to your creditors. Before an IVA is presented to creditors, the insolvency practitioner acts as your nominee and is required to review your IVA proposal and provide a report to advise whether in their opinion, it has a realistic chance of success. The nominee’s fee covers this initial work, in addition to the following tasks:

  • Drafting the IVA proposal on your behalf
  • Gathering information regarding your creditor claims
  • Giving notice of and holding a meeting of creditors

The insolvency practitioner will be paid the nominee fee out of the first payments you make into the IVA and these will not be paid to your creditors. This means your accounts will go into arrears (or further into arrears).

Supervisor’s Fee

The supervisor’s fee covers the ongoing maintenance and supervision of your IVA right up to the day it finishes (in most cases, this would be five years). This work typically includes:

  • Completing annual reviews of your IVA
  • Providing reports to creditors
  • Distributing dividend payments to creditors
  • Addressing any major issues that arise if your financial circumstances change, for example, as a result of a change of your employment, your insolvency practitioner may arrange an IVA variation (a legally binding change to the terms of your IVA, designed to help you bring your IVA to a successful close)

The calculation of the supervisor’s costs and fees will depend on the proposal and is therefore subject to your individual circumstances.

It is up to you to fix the basis of the supervisory fees as this will form part of your proposal to creditors. Your creditors will be asked to vote on your proposal and at least 75% of creditors who vote at the meeting must vote to approve it, including the fee, before your proposal can be accepted. The level of the supervisor’s fees will also affect the return to your creditors under the arrangement and will therefore affect their decision to accept your proposal.

Payment of fees

All IVA providers charge fees in line with an agreed scale set by creditors. Fees are normally taken as part of the single monthly payment you make towards your IVA.

Fees depend on the amount you owe and how much can be repaid during the IVA. Your IVA proposal will detail the exact amount of fees being charged by the insolvency practitioner.

The following example shows typical fees and payments in an IVA:

  • Total Debt – £31,000
  • Total Contributions Towards IVA – 60 months at £300 per month = £18,000
  • Nominee’s Fee – £1,500
  • Supervisor Fee – £2,475 over 60 months (this is typically 15% of realisations after the Nominee’s Fee)
  • Costs – £831
  • Total costs over 5 years – £4,806
  • Net paid to creditors – £13,194 (43%)
  • Amount written off – £17,806 (57%)

Warning – if your IVA fails!

As a significant amount of your payments into an IVA are taken first to meet your insolvency practitioner’s fees, if your IVA fails you will remain liable for the balance of your debt and any insolvency practitioner fees and costs already incurred.

Protected Trust Deed Fees

Protected Trust Deed Fees

Your Trustee will charge a fee for setting up and administering your Trust Deed. This includes:

  • Drafting and administrating the Trust Deed proposal
  • Corresponding with your creditors
  • Ensuring your monthly contributions are distributed to your creditors and any other assets are dealt with
  • Periodic reporting to creditors and the Accountant in Bankruptcy
  • Dealing with any other issues or concerns during the course of the Protected Trust Deed

The following example shows typical fees and payments in a Trust Deed

  • Total Debt – £15,000
  • Total Contribution Towards Trust Deed – 48 months at £150 per month = £7,200
  • Fixed Administration Fee – £2,500
  • Trustee’s Percentage Based Realisation Fee – £1,440 (this is typically 20% of total realisations)
  • Costs – £666
  • Total costs over 4 years – £4,606
  • Net paid to creditors – £2,594 (17%)
  • Amount written off – £12,406 (83%)

These fees are detailed in the documents issued to creditors and must be agreed for the Trust Deed to become protected.

It’s important for you to know that you will not receive a bill at any stage. When you make your agreed monthly contributions, it creates a ‘pot of cash’ and your Trustee takes their fees from that pot before the money is distributed amongst your creditors.

The fee the trustee will charge will depend on your individual circumstances but typically for a new Trust Deed case, the fee would be around £2,500 + a percentage of other funds. This includes VAT and statutory costs that must be paid. This fee is based on the contributions you will make to your creditors and additional fees may be taken if the Protected Trust Deed period is likely to exceed three years, or if your Trustee needs to deal with any equity or assets that you may have.

Warning – if your Protected Trust Deed fails!

If your Protected Trust Deed fails, you remain liable for your debts and your creditors will be able to pursue you for repayment.

For advice, or to discuss our debt solution fees please

Seeking alternative debt advice

It is important for you to know that in the UK there are a range of organisations that can give you debt advice. Some of them charge for this advice and some don’t. There are charities and government organisations, such as the Money Advice Service and the Citizens Advice Bureau  who you can approach for free advice.

Some companies, ourselves included, charge a management fee once you take on a solution. However, no matter who you deal with, there may be costs associated with the product you are recommended such as court fees. Any costs should always be explained to you before you agree to enter a debt solution.

Useful Links

Turn Debt Around / Fresh Start Debt Management Terms & Conditions


If you live anywhere in the UK you may refer to the Gov.uk website for useful information and guidance about dealing with debts and options available to you.

The Insolvency Service is a government organisation and provide you with information in relation to insolvency products and insolvency practitioners.

If you live in Scotland, you may get guidance on dealing with your debts from The Accountant in Bankruptcy helps you to deal with your creditors and your debt.

Check our regulators website for information about how we are regulated visit:

For information about how to make a complaint against any financial organisation including ourselves visit:

Information about all Government provided services a from things like education to money to immigration and more, visit:

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Turndebtaround Limited, registered in Scotland company no. SC296390
Registered Office at GF, 6 Deer Park Avenue, Fairways Business Park, Livingston, EH54 8AF
Authorised and regulated by the Financial Conduct Authority (FCA) permissions No. 586234
Regulated by the Claims Management Regulator (MOJ) for claims management activities, permission no. CRM33458

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