Collect contributions, hold estate money, distribute to creditors
An IVA or a formal arrangement means collecting a monthly contribution for years, holding estate and client money strictly apart from your own, and distributing to creditors accurately. The money handling is regulated and exacting, and it has to reconcile per estate.
Long collections, strict money handling
Contributions collect monthly over the life of an arrangement, often several years, so the collection has to be dependable and timed to the debtor's real income or the arrangement falters.
Estate and client money must be held entirely apart from the practice's own funds and accounted for precisely per case, which is a regulatory requirement rather than good practice.
Distributions to creditors happen on a schedule and have to reconcile exactly against what was collected and held for each estate.
The payment mix that fits
Not one rail. The two to four that match how money actually moves here.
Collect monthly IVA contributions on a mandate over the life of the arrangement, timed to the debtor's income.
Hold estate and client money in segregated accounts, accounted for per case.
Distribute to creditors on schedule, referenced per creditor and estate.
Your flow of funds, orchestrated
Monthly contributions collect over Direct Debit, timed to the debtor's income and retried after a miss, for the life of the arrangement. Estate and client money is held in segregated accounts, accounted for per case. Distributions go to creditors over Faster Payments on schedule, referenced per creditor and estate. Every contribution, held balance and distribution reconciles per estate on one ledger.
Every book moves money differently. We map your flow of funds and quote one integration across the rails that fit.
Related
Payments for insolvency practitioners: FAQs
Held in segregated accounts and accounted for per case, entirely apart from the practice's own funds.
Over Direct Debit timed to the debtor's real income and retried after a miss, so a collection that must hold for years is as dependable as possible.
Each distribution is referenced per creditor and estate and reconciles against what was collected and held, on one ledger per case.
Tell us how you get paid
Send us the mix of payments you take and make, and we will quote one integration across the rails that fit, priced on your volume.