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The terms and conditions of use set out below apply to the website www.ndhfinancial.co.uk (the “Website”). This Website is a trading style of NDH financial Limited and is intended for use by residents of the United Kingdom of Great Britain and Northern Ireland only. By using the Website, users are deemed to have full knowledge of the following terms and conditions and to accept them.
All information accessible on this Website is protected by copyright. Users may view Website pages on screen and may print or download extracts for personal use or for use by others within their organisations.
Users may supply a copy of any such extract to any third party provided that:
No part of this Website may be reproduced, transmitted to, or stored on any other website or in any other form of electronic medium without NDH financial Limited’s express written consent.
NDH financial Limited will use its reasonable endeavours to provide users with a prompt and continuing service. NDH financial Limited does not, however, warrant that the service it provides will continue uninterrupted or without delay or that it will remain unchanged. In particular, NDH financial Limited reserves the right to bring the Website down as and when necessary for the purposes of maintenance.
Whilst NDH financial Limited will use its reasonable endeavours to ensure that the information contained in the Website is correct and reliable, no warranty, either express or implied, is given as to the accuracy or completeness of that information.
The Website is intended to provide users with general information relating to NDH financial and NDH financial Limited, its various products and services and other financial information which may be of relevance or interest to users. The Website is not intended to provide exhaustive details in respect of any of the issues or matters referred to on it. In particular, information generated via the Analyser tool on the Website is intended to be considered as a high-level indicator only and should be treated by users as non-binding guidance.
Prior to making any decision or taking any action which may potentially affect users’ personal finances or business, users are urged to take independent advice from suitably qualified advisors.
The Website may from time to time contain hypertext links to a number of websites owned, operated and controlled by third parties. NDH financial Limited has no control over or proprietary interest in any of these websites and, as such, makes no warranties with regard to the quality, security, accuracy or any other aspect of such sites, and excludes any and all liability arising from use of the same.
The protection of users’ personal data takes top priority for NDH financial Limited and NDH financial Limited does not collect any personal data through its Website without users’ consent. Users alone decide whether to provide NDH financial Limited with such data or not.
Where users of the Website are able to communicate to NDH financial Limited personal information via the Website, NDH financial Limited shall, at all times, process and utilise such personal information provided in accordance with the Data Protection Act 1998. Only authorised employees, under appropriate confidentiality obligations will have access to users’ personal information. If users who have provided NDH financial Limited with personal information would like to alter their details or check their accuracy, please email us at: support@ndhfinancial.co.uk
Upon access to the Website, information is occasionally collected automatically (i.e., not through a registration), whereby this information cannot be assigned to a specific person (e.g., Internet browser and operating system used; domain name of the website from where users arrived; number of visits, average dwell time, pages called up). NDH financial Limited uses this information to determine the activity of the Website and improve its content.
When users visit the Website, information may be saved on users’ computers as a “cookie” which is then automatically recognised on the next visit to the Website. Users who do not want NDH financial Limited to recognise their computers should set their Internet Browsers so that they delete cookies from the computer hard disk, block all cookies or warn users before saving a cookie.
Whilst every effort is made to ensure that any enquiries submitted are dealt with promptly, NDH financial Limited cannot guarantee that queries will always be dealt with within the timescale users may require.
NDH financial Limited cannot always guarantee complete confidentiality and would therefore recommend that users do not transmit or include sensitive information, which could be classed as a trade secret, via the Internet.
NDH financial Limited shall not be liable for any third party claims or losses of any nature, including, but not limited to, loss of profits, indirect or consequential loss or loss due to circumstances beyond its reasonable control.
NDH financial Limited does not accept any liability for any acts or omissions resulting from users’ decisions or opinions formed on the basis of use of the Website
NDH financial Limited may, at any time change, modify, add to or remove part or all of these terms and conditions. Users should therefore check these terms and conditions periodically to see if they have changed. Continued use of this Website following any change in the terms and conditions will be deemed to constitute the users’ acceptance of those changes.
NDH financial Limited makes every effort to ensure that the information and data contained on the Website is correct. NDH financial Limited, however, accepts no liability and does not guarantee that the information and data provided is up to date, correct and complete. This also applies for all other websites referred to by means of a hyperlink from time to time. NDH financial Limited is not responsible for the contents of such websites reached by means of such a link and reserves the right to modify or supplement the information or data provided without prior notice.
These Terms and Conditions are governed by and shall be construed in accordance with English law. Disputes in connection with the Website shall be subject to the jurisdiction of English Courts.
Please also read the Privacy Policy for information regarding our general business and website usage terms and conditions.
NDH financial is a trading style of NDH financial Limited.
Below details information about the fees charged entering and managing the debt solutions provided.
Individual Voluntary Arrangement (IVA): Fees and costs
NDH financial Limited will only charge fees if an IVA is subsequently approved by your creditors and our fees are only taken from your monthly payments or asset realisations paid into your arrangement. Our fees are detailed in the proposal, however, In most cases, creditors amend the terms of the IVA to reduce the fees we draw. Usually, creditors will either cap the Nominee’s fee, Supervisor fee, and disbursements at £3,650, or alternatively, they will set individual caps on the Nominee’s fee and Supervisor’s fee as detailed below.
In an IVA there are three distinct types of cost charged by the Insolvency Practitioner.
This fee covers the setting up and preparation of your IVA. This includes assessing your current financial situation and your repayment offer to creditors, issuing the Proposal to your creditors, the administration and facilitation of the creditors’ decision process used to consider the IVA, and any negotiations with creditors during this process.
The Nominee’s fee is generally proposed at £2,000, depending on the level work required, however, this is usually reduced by creditors to £1,000 to £1,650.
These fees are charged for the ongoing administration of the IVA which includes collecting and distributing your monthly repayments, dealing with any queries raised by you or your creditors, completing an annual review of your financial circumstances, reporting annually to you and your creditors about the progress of the IVA, and dealing with the closing formalities.
The Supervisor’s fee is proposed as 18% of the contributions paid into the arrangement, however, this is usually reduced to 15% by creditors, or is limited by an overall cap of £1,750.
When additional work is required, outside of the work initially anticipated above, an additional fee may be drawn in respect of that specific work, for example, convening and holding a variation meeting. These additional fees are detailed in the proposal. These fees are generally limited by creditors.
These are costs paid by the IP to third party companies for statutory insurances, statutory registrations, software licence, document portal and postage that are required as part of the arrangement. These may also include payments made for the provision of additional services to provide the best return for your creditors.
Typically the disbursements of the arrangement equate to around £758 per case.
Below are typical examples of the costs and fees charged in an IVA, where the client has £18,000 worth of unsecured creditors and is making monthly repayments of £150 in the IVA (£9,000 in total over 60 months)*.
The Nominee’s fee : £1,000
The Supervisor’s fee**: £1,200
The Nominee’s & Supervisor’s costs: : £758
Total repaid to unsecured creditors: £5,600
Total written off by unsecured creditors: £12,400
Total Fees, inclusive of Nominee’s Fee, Supervisor’s Fee and Disbursements: £3,650
Total repaid to unsecured creditors: £5,350
Total written off by unsecured creditors: £12,650
*These examples are for illustration purposes only and actual repayment amounts and debt write off will be dependent on individual financial circumstances, and assume that no additional work outside the expected Supervisory work is required.
**15% of further monthly payments once the Nominee’s fee has been satisfied.