Our Fees

Honest and Open

Deciding upon an IVA, debt management plan, or any other form of debt solution is an important decision and we believe that it's important that you fully understand what's involved.

Debt Free Me are a commercial debt management company, which means that although all advice given is completely without charge, we do charge a fee for certain debt solutions. This fee enables us to offer you the best possible service.

IVA Fees

As an IVA is a legal agreement, all IVA providers work to the same guidelines, and therefore our IVA fees are inline with everybody else, including debt charities.

Our debt management plan fees are extremely competitive and we believe offer the best value in the industry. We always ensure that what you pay is reasonable, and inline with the services that we provide.

Debt Free Me are regulated by the Debt Resolution Forum, and our staff are trained in accordance to Cert DR (the first recognised qualification for those in the debt management industry), so you can be sure of getting excellent value for money.

What You Will Get From Us

Here at Debt Free Me we strive to offer the best possible service, what we offer includes:

• Honest, no-obligation advice which we explain in plain English.

• The best solution for you, based upon your own particular circumstances.

• Access to professional, friendly, trained advisors.

• A working relationship in which we will help you throughout your debt recovery journey.

What Fees Are Involved?

Depending on your situation, you may be advised to enter a specific debt solution. If you do, fees may be charged. As a long-standing debt solution provider, we always strive to offer our customers an excellent service, whilst keeping our fees competitive.

Each individual case has different circumstances and creditors for us to deal with, and not everybody's debt management solution will involve the same amount of work. Any costs incurred are paid over a period of time to break up the cost for you.

The vast majority of work and costs involved is in the setting up of the plan and the early negotiations with your creditors, which is why we have a monthly management fee.

Our policy is to commence work on a client's file immediately. Once we receive the client's signed Authority to Act we proceed to contact creditors, regardless of any fees being paid.

We make token payments to the client's creditors from the set-up fees to ensure continuity of payment during the initial set-up period. After this period the client's disposable income is disbursed pro-rata to all creditors.

You will go further into arrears as a result of paying the set-up fees and making token payments. However it is preferable to make these token payments than nothing at all while we contact your creditors.

Set-Up Fees

Unlike many debt solution companies we take a monthly fee of £25, rather than a percentage of your monthly disposable income, this is a set tracking fee and covers ongoing negotiations, all correspondence, all administration costs, and more. We estimate that for an average client we will have sent to them, and their creditors, in a 6 month period, approximately 74 sets of correspondence.

Debt Management Plan Fees

IVA Fees

Will It Affect My Credit Rating?

Most debt solutions will affect your credit rating, although if you are struggling with debt then there's a chance that you already have an impaired credit record. By entering into a managed debt solution, like a debt management plan or an IVA, you will be showing your creditors that you are taking a responsible attitude to resolving your financial problems and this could help you in the future.