PayPlan Partnership Limited

If you choose to enter into an IVA with PayPlan, it will be set up and managed by PayPlan Partnership Limited.

PayPlan Partnership is a sister company of PayPlan. It specialises in IVAs and is regulated by the Insolvency Practitioners Association. While we offer free debt advice, PayPlan Partnership is licensed to provide and manage formal insolvency solutions like IVAs.

With your consent, we’ll securely pass your details to PayPlan Partnership so you won’t need to repeat your information. From there, your dedicated team will take care of the IVA process, supporting you every step of the way.

What PayPlan Partnership will do for you

Once your IVA is approved, your support team at PayPlan Partnership will:

• Make sure your plan stays affordable – They’ll work with you to keep your budget up to date and manageable.
• Communicate with your creditors – They’ll handle all communication with the creditors included in your IVA. If creditors contact you directly, let your support team know.
• Manage your monthly payments – Once your payment is received, they’ll divide it fairly between your creditors.
• Support you throughout your plan – Expect regular reviews and catch ups to make sure your plan is running smoothly. If anything changes in your circumstances, they’ll help you adapt.

IVA Fees

All IVA providers charge fees, but these are agreed with your creditors and are included within your monthly payments – not added on top.

PayPlan Partnership Limited operates a fixed-fee model. The total fee for managing your IVA is £4,200, covering everything from setup to supervision. These fees are only charged if your IVA is approved and goes ahead.

Here’s how they’re broken down:

Nominee’s Fee – £2,100

This covers the cost of setting up and preparing your IVA, including:

• Assessing your financial situation in detail
• Preparing and submitting your IVA proposal
• Liaising with creditors before your IVA is approved

Supervisor’s Fee – £2,100

This covers the ongoing management of your IVA, including:

• Collecting and distributing your monthly payments
• Regularly reviewing your circumstances
• Supporting you through any changes
• Communicating with creditors and completing your IVA

Asset Realisation Fee- 15% of additional payments

If you receive a windfall, inheritance or other one-off payments during your IVA, a 15% fee applies to the amount received. This is taken from the payment itself and is not an additional cost to you.

If your IVA fails, due to missed payments, the fees incurred until that point will still apply – meaning your total debt may not reduce by the full amount you’ve paid in.

Credit score while in an IVA

Entering into an IVA will impact your credit file. It will appear for six years from the date your IVA is approved and may affect your ability to obtain credit during that time.

Credit score after an IVA

However, an IVA can help you take back control, stop interest and charges and write off remaining debt at the end of the term – giving you a clear path toward becoming debt free. 

Built for support and flexibility

Your IVA with PayPlan Partnership is built around your real-life circumstances. Under the 2025 IVA Protocol[1], your Supervisor can now approve payment breaks or reduction in payments up to 20% without having to ask creditors for permission – making the process quicker and more flexible if things change.

What if I’m a homeowner?

If you own a home, your equity, which is based on 85% loan to property value, will be assessed – but you won’t be asked to sell your home. Here’s how it works under the 2025 Protocol:

• If your share of equity is under £10,000, your IVA will last five years, with no need to release equity
• If your share is £10,000 or more, your IVA will typically last six years, avoiding the need for remortgaging or equity release

Need help or more information?

We’re here to guide you through every step. Whether you’re exploring your options or ready to move forward with an IVA, our team is on hand to help you feel confident in your next step.

Call us free on 0800 316 1833, speak to us on Live Chat at payplan.com or connect with us via WhatsApp.

[1] The 2025 protocol only applies for IVAs approved after July 2025. Previous IVA protocols apply for IVAs approved before then.