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Full & Final IVA

Example
A couple have little or nor surplus income – equity in their house of £25,000. A parent offers a sum of £20,000 as a lump sum to settle the debts of £40,000.

A full and final IVA
The most common full and final IVA is lump sum introduced by third parties or through a remortgage. Alternatives may include proceeds from the sale of property or other assets i.e. shares, bonds etc.

FactFind Fees
Set fee of £500.
This is treated, for ethical and regulatory purposes, as a FactFind Fee to advisors for assistance with preparing financial information on behalf of the Nominee. The FactFind Fee must be disclosed in the proposals and forms part of the Nominees fee.