Navigation Finance is a firm of licensed Insolvency Practitioners specialising in debt relief solutions. Our services include Individual Voluntary Arrangements (IVA), and Trust Deeds (in Scotland).
We offer a free initial consultation to assess your financial situation and discuss potential options. Our advice is tailored to your specific circumstances and based on the criteria for insolvency solutions.
If we determine that an insolvency solution is appropriate, we will explain the risks and benefits of each option to help you make an informed decision.
There are no upfront costs for our services. If we cannot provide a suitable solution, we may refer you to a regulated partner.
If you choose to proceed with an insolvency solution through Navigation Finance, we will guide you through the process. Fees are payable and are included in your monthly contributions.
Fees and costs will be clearly outlined in your IVA proposal and agreed upon by your creditors during the voting process. These fees will be covered by your monthly contributions to the IVA.
The insolvency practitioner will initially act as your Nominee, overseeing the early stages of the IVA process. Once the IVA is approved, they will become your Supervisor, responsible for ongoing management.
Fees may vary based on individual circumstances and can be calculated as a fixed fee or a percentage of monthly contributions.
Nominee’s Fees: Typically a fixed fee covering the initial stages, including preparing your IVA proposal and conducting the creditors’ meeting.
Supervisor’s Fees: While we recommend a fixed fee, creditors may request a percentage-based fee calculated over the lifetime of the IVA. This covers supervision activities such as:
IVA Illustration of fees
| Debt level | £30,000 |
| Monthly contributions | £300 |
| Total contributions (5 years) | £18,000 |
| Nominee’s Fee | £1,500 |
| Supervisor’s Fee | £2,475 |
| Disbursements | £300 |
| Payment to creditors | £13,725 (46p in the £) |
Fees and costs will be clearly outlined in your Trust Deed engagement letter. These fees will be covered by your monthly contributions to the Trust Deed.
The insolvency practitioner will initially act as your Trustee, overseeing the Trust deed
Typical Trust Deed fees comprise different elements to the work that is done throughout the (typical) four-year term of your solution:
Fixed Administration Fee: Typically a fixed fee of £2,500 (subject to variation based on creditors), covering the initial stages of the Trust Deed process, including proposal preparation and the 5-week objection period.
Permanent Trustee Fee: Calculated as a percentage (usually 20%, subject to variation) of total assets and contributions realized. This covers supervision activities, including:
Trust Deed Illustration of fees
| Debt level | £30,000 |
| Monthly contributions | £300 |
| Total contributions (4 years) | £14,400 |
| Fixed Administration Fee | £2,500 |
| Permanent Trustee Fee | £2,380 |
| Disbursements | £1,000 |
| Payment to creditors | £8,520 (28p in the £) |
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