How much does it cost?

Initial Instruction Fee

An initial Instruction Fee is payable, which is based upon the level of unsecured debt and the number of creditors you have requested that we act upon. The amount and payment arrangement will be clearly stated on the Debt Management Agreement (DMA) that you sign before we act on your behalf. You can pay the Instruction Fee fully in one go, or pay it over a three month period. Payment dates will fit in with when you are paid and using the most convenient payment method for you (e.g. Direct Debit, Standing Order, Allpay Payment Card).

EuroDebt offers a 14 day "cooling off" period after signing the DMA and any amounts paid in this period will be fully refunded if you decide to withdraw.

As soon as we receive at least 10% of the Instruction Fee, EuroDebt will set up your Debt Management Plan (DMP) with the creditors listed on your Client Financial Planner (CFP). This will include notifying them of our appointment, requesting correct account balances and making two holding payments on your behalf to your listed creditors. We can also take immediate action in relation to any existing or pending legal action. Where legal support is required we will request that you waive your right to the 14 day cooling off period.

Once half of your Instruction Fee has been paid we commence making your negotiated monthly payments to creditors through your Single Payment Plan (SPP). You will always be given advance notice if a payment hasn't been received that affects progress on your case. Our Payment Assistance team is available by telephone if your financial circumstances change after signing your Debt Management Agreement.

Monthly Management Fee

Once you start your Debt Management Plan, we charge a monthly management fee of between £27.50 and £50.00 depending on the number of creditors you have and the total amount of unsecured debt. The exact amount will be stated in your Debt Management Agreement (DMA). The monthly management fee will be included in your monthly Single Payment Plan payment to EuroDebt.

There is no Value Added Tax (VAT) applicable to any of EuroDebt's service fees.

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