What fees will I be charged?

Our fees are split into 2 parts, both of which vary depending on your disposable income.

Disposable Income
Your monthly payment is calculated based on what’s left after housing, bills, food and other essentials have been paid out of the money you receive each month, this is known as your disposable income. One of our advisers will help you calculate your disposable income as part of your initial advice call.

Monthly management fee
Your monthly management fee is set at 17.5% of your disposable income, subject to a minimum payment of £30 for disposable incomes £100 and below, and £35 for disposable incomes between £100 and £200.

Click here to see what your fees pay for

Are there any other fees?
At the start of your plan, we deduct an arrangement fee which is equal to 2 times your monthly payment, minus 2 monthly management fees. The arrangement fee is then split down into 6 smaller payments, made over the first 6 month of your plan.

If you had a monthly income of £1,400 but needed £1,245 to pay your mortgage, utilities bills, transport, food and other essential items you would be left with £155. This is your disposable income and would be the amount you pay to MoneyPlus each month.

We would distribute £120 to your creditors each month after deducting a monthly management fee of £35.

At the start of your plan an arrangement fee of £240 would be spread evenly over the first 6 months adding £40 to your monthly fee.

What do your fees pay for?

The first 6 months of your debt management plan are the busiest and the Arrangement Fee covers this period.

Within the first six months, we will have:

  • Gone through your I&E and calculated reduced repayment proposals based on what is realistic and affordable.
  • Reviewed your draft payment plan.
  • Prepared your financial statement.
  • Spoken to all your creditors and renegotiated, monthly debt payments that are fair for all.
  • Liaised with and provided information to your creditors on your behalf.
  • Created a personal log in for you to access our Customer Portal.

Your monthly management fee covers the ongoing cost of managing your account, including:

  • Help and support from our customer service team
  • 24 hour access to our online Customer Portal.
  • Distributing the agreed monthly payments to each of your creditors.
  • Answering letters and phone calls from your creditors on your behalf.
  • Carrying out a review of your circumstances at least every 12 months (or more often, if necessary) to ensure you are still on a plan that’s right for you.