Who are we?
We are Right Protect Leads. We are a lead generation company based in London.
What are the fees for your solutions?
If you enter into a debt solution with us, there may be fees involved. As one of the longest-standing debt help providers in the UK, we promise our customers an excellent service, and we will always ensure our fees stay competitive.
Will my credit score be affected?
Any debt solution that involves paying less than originally agreed will have an impact on your credit rating in the medium to long term. We’ll talk you through all the pros and cons of each solution before you sign up for anything.
What if I change my mind?
If you choose to enter a solution with us, you have the right to cancel the agreement at any point within the first 14 days. If you do, you will receive a refund of any initial fee paid to us.
Debt management plan fees
A monthly management fee will be charged of 18.5% of each payment, subject to a minimum of £38.50 and a maximum of £90. This fee covers the month-to-month running of your debt management plan, including distributing payments and taking care of correspondence between you and your lenders.
This fee also covers our regular reviews of your circumstances – normally once every 12 months (or any other time your circumstances change). If your situation has changed and your ability to keep up with your debt management plan is affected, we can talk to your lenders about changing your payments accordingly.
IVA Assessment fee
There is an assessment fee payable for the work involved in gathering and assessing the information that will go into your IVA proposal. You will receive a full refund of this fee if your lenders reject your IVA proposal.
This assessment fee is based on the information you provide to our advisers, and is equal to your monthly disposable income (after priority debts and living costs), subject to a maximum of £495.
Please note: the IVA assessment fee will not be passed on to your creditors or go towards the actual IVA itself.
Once your IVA has been agreed
There are two types of fee payable once an IVA has been agreed: the Nominee’s fee and Supervisor’s fees. Here’s an illustration of a typical client’s IVA
|Typical monthly repayments (60 months)||£220|
|Total paid by borrower||£13,200|
|Total unsecured debt written off on completion||£17,600 (65%)|
Please note: example is for illustrative purposes, based on a typical client – a borrower with £27,000 of unsecured debt, on an IVA lasting five years and with no equity in their home.
This is a one-off fee that covers the cost of arranging your IVA. This process includes:
- Your IVA proposal – which sets out the proposed terms of your IVA and provides your lenders with a detailed snapshot of your finances
- Organising the creditors’ meeting, in which lenders can request changes to the terms of your IVA
Your first few monthly payments will go towards paying this fee, and not to your lenders.
Once the Nominee’s fee has been covered, you will start paying Supervisor’s fees, which make up a percentage of each monthly payment. This covers the ongoing work involved in running your IVA.
Two people look after your IVA. Your Relationship Manager is there to make sure things run smoothly, and can take care of any issues you face. Then there’s your IP (Insolvency Practitioner), who takes care of the legal side of things and can deal with any more significant issues that arise (e.g. a change in circumstances that may require a change in your payments).
Note: It’s important that you keep up with your monthly IVA payments – if you don’t, your IVA could fail, and you would then be liable for the outstanding balance and any costs already incurred by us.
Trust Deed fees
You will pay a flat monthly fee while your Trust Deed is ongoing. This covers the running costs of the arrangement. We’ll tell you exactly how much this will be when we put together your Trust Deed proposal.
Here’s an illustration of a typical client’s Trust Deed:
|Typical monthly payments (x48 months)||£200|
|Total repaid by individual (including fees above)||£9,600|
|Total unsecured debt written off at completion||£15,320|
Please note: this is an illustrative example based on a typical client – a borrower with £20,000 of unsecured debt on a Trust Deed lasting four years, who has no equity in their home. Fees shown are inclusive of VAT where applicable.
The fees won’t affect how much you pay each month, or how much you pay in total over the course of your Trust Deed, because you’ll be expected to pay only as much as you can afford throughout the arrangement.
We’ll tell you exactly how much your fees will come to before the Trust Deed starts, as part of your Trust Deed proposal – the document which sets out the proposed terms of your Trust Deed for your creditors to consider.
The monthly fee will cover both the initial associated with arranging your Trust Deed and the work involved in keeping your Trust Deed running. Your Relationship Manager takes care of the day-to-day running of the Trust Deed, and can answer any questions or queries you may have.
The fee also covers any work required by your IP (Insolvency Practitioner). They work with you to draw up your Trust Deed proposal, and can take care of any more serious issues that occur (e.g. asking your lenders about changing your payments if your circumstances change significantly).
Note: It is very important that you keep up your Trust Deed payments, or the arrangement could fail. If it does, you will be liable for the outstanding balance and any costs already incurred.
Debt Arrangement Scheme
If you enter into a DAS Debt Payment Programme through us, there is an Initial fee (your first monthly payment, subject to a minimum of £225 and a maximum of £475) and Monthly fees (15% of each monthly payment, subject to a minimum of £32.50 and a maximum of £85).
The initial fee will be used to cover the work that’s involved in setting up your Debt Payment Programme, including reviewing your circumstances, helping you put together your budget plan and negotiating with your lenders for reduced payments.
None of the first payment you make will go towards your debts, and this means you will go further into arrears temporarily. But don’t worry – you’ll be reducing your balance again as soon as you have made this initial payment.
Your monthly fees pay for the work that’s involved maintaining your DAS Debt Payment Programme, including dealing with any issues or problems that may arise.
We’ll carry out regular reviews of your circumstances to help ensure your Debt Payment Programme remains the best solution for repaying your debts. If at any point we believe it isn’t (if your circumstances change significantly, for example), we can help you to find a more appropriate debt solution for your needs.
If your circumstances do change but you can still afford to make a reasonable monthly payment, we may be able to arrange with your lenders for your monthly payments to be reduced accordingly.
There is a charge of £375 plus VAT per application for our bankruptcy services. This includes all the administration, preparation of court documents and communications with lenders. It also covers the ongoing support provided by your own Personal Insolvency Specialist during the period leading up to your Bankruptcy Order and for 12 months after we receive your application.
The fee can be paid in instalments if you are unable to pay it in one go. You should discuss this with your Personal Insolvency Specialist when you call us.