Our Fees

Our Fees

How you will pay us (Our management fee Explained)

a. Unless agreed otherwise, our fee will be 20% of your monthly payment or £40 whichever is higher (subject to maximum £100 fees cap) for managing up to 08 creditors on your file, 22% of your monthly payment or £45.00 whichever is higher (subject to maximum £100 fees cap) for managing from 9 to15 creditors and for more than 15 creditors there will be an extra fee of £5.00 for each creditor you add under the ACME Pay Plan (subject to maximum £100 fees cap). You authorise us to recover our management fee from the client bank account prior to issuing payments to your Creditors mentioned in the ACME Pay Plan.

b. We will send payments to all your lenders from month one onwards, which will always be 50 percent or more of your total monthly payment to us during the whole term of the plan.

c. If your monthly disposable is less then £125 then our fees will be three months of your disposal income (payable in six equal monthly installments), if your monthly disposable is more then £125 then our fees will £250 one off setup fees plus your one month disposable income (payable in minimum six equal monthly instalments) . We do not charge any additional management fees during the first six months of your pay plan term, our management fees becomes payable from the seventh month onwards as per clause 6.a.

Our fees for DMP Service explained further.

There are two types of fees when a new client joins our Debt Management Service.

1. Set Up Fee

2. Management Fee

 

1. Set Up Fee

If your monthly disposable is less than £125 then our fees will be three months of your disposal income (payable in six equal monthly instalments),

if your monthly disposable is more than £125 then our fees will £250 one off setup fees plus your one month disposable income (payable in minimum six equal monthly instalments) .

We do not charge any additional management fees during the first six months of your pay plan term or until your set up fee has been received by us, our management fees become payable only after set up fee has been received, refer to the below calculation table for fees explanation;

You pay no upfront fees to us in any way.

2.Management Fee

Fees calculation explained

Once your six months are over or if your set up fee is fully received, you will revert to the below fees structure. (The amount set out in the below table have been calculated to ensure that we always distribute at least 50% of your monthly payment to your lenders from month one onwards).

No of Creditors Fees Structure
1-8 Creditors Minimum £40 or 20% of your disposable income which ever is higher, subject to max fees capping of £100
9-15 Creditors Minimum £45 or 22% of your disposable income which ever is higher, subject to max fees capping of £100
16 + Creditors For more than 15 Creditors there will an extra fees of £5 for each creditor you add under Acme Pay Plan subject to max fees capping of £100.

Example of our Fee calculation;

No of Creditors Your Monthly disposable Income Your initial Monthly Installment charges Duration of Monthly instalment will last to cover the fees to retain your amount equivalent to your first monthly disposable plus £250 one off set up fees
1-8 £110 £55 (for the first six months)

£40 (from 7th Month onwards

Three times your disposable income is equally taken in 6 months as disposable income is below £125.

6 Months
1-8 £130 £63.33 (for the first six months)

£40 (from 7th Month onwards)

One of £250+130 your first month disposable income is equally taken in 6 months.

6 Months
9-15 £170 £70 (for the first six months)

£45 (from 7th Month onwards)

One of £250+170 your first month disposable income is equally taken in 6 months.

6 Months
18 £220 £78.33 (for the first six months)

£63.40 (from 7th Month onwards)

One of £250+220 your first month disposable income is equally taken in 6 months.

6 Months

We will send payments to all your lenders from month one onwards, which will always be 50 percent or more of your total monthly payment to us during the whole term of the plan.  

Ongoing fee:

  1. Unless agreed otherwise, our fee will be 20% of your monthly payment or £40 whichever is higher (subject to maximum £100) for managing up to 08 creditors on your file, 22% of your monthly payment or £45.00 whichever is higher (subject to maximum £100) for managing from 9 to15 creditors and for more than 15 creditors there will be an extra fee of £5.00 for each creditor you add under the ACME Pay Plan (subject to maximum £100). You authorise us to recover our management fee from the bank account prior to issuing payments to your Creditors mentioned in the ACME Pay Plan.

The minimum fee payable is £40; the actual amount of our fee is shown in the ACME Pay Plan.

b. We will pay all further payments to your Creditors mentioned in the ACME Pay Plan, after deducting our Fee.

c. There is a one off set up charge of £50.00 for adding any additional creditor in your existing credit commitments with us.

7. about your money and the Bank Account

a. We will place all money that you pay us under the ACME Pay Plan in the Client Bank Account.

b. We will pay your Creditors mentioned in the ACME Pay Plan from the funds held on your behalf in the Bank Account.

c. You have authorised us to obtain payment of our Fees from the Bank Account.

You will receive a quotation which will tell you about any other fees relating to additional work you authorise us to act on.

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Money Advice Service

To find out more about managing your debt and receiving free debt advice visit www.MoneyAdviceservice.org.uk

Further Additional Information

The insolvency service has produced a guide for people who are struggling with debt. This guide outlines each of the available solutions. You can download the guide by clicking the following link – In Debt? Dealing With Your Creditors.

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©2017 ACME Credit Consultant Ltd. 

Authorised and Regulated by the Financial Conduct Authority for Regulated Debts Ref No. 577189 

Data Protection Number - Z193403 . Registered in England and Wales -5570364.

All debt solutions should be very carefully considered. Fees will be charged if a solution is taken in order for us to set up a plan and maintain it - all fees will be outlined during the consultation. Retained payment may place our client further into arrears. Acme Credit Consultants Ltd complies with the Consumer Credit Act and The client has the right to a cooling off period of 14 days. It is likely that their ability to obtain further credit in the short term will be affected and this may also be the case over the medium to long term.We DO NOT offer any lending services, we are a team of debt managers.Calls to our free phone number from mobile phones and other networks may be charged.

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