Common use of Set-Up Fees Clause in Contracts

Set-Up Fees. From Month 1 to Month 6 we will deduct 40% of your agreed monthly payment this is called the set-up fee. In the event that you make partial payments in months 1 to 6 we will not extend the period of payment of the set-up fee but reserve the right to increase our monthly set up fee to a maximum of 49%. Our Set-up fee covers the costs of;  reviewing your debt illustration plan  calculating the reduced repayment proposals  preparing your financial statement  talking to your creditors – renegotiating your monthly debt payments  providing information to your creditors. Once we are in receipt of your completed & signed paperwork and your first monthly payment, we will make a proportional payment to each creditor that you have provided payment details for within 5 working days of received payments being cleared.

Set-Up Fees. From Month 1 to Month 6 we will deduct 40% of your agreed monthly payment this is called the set-up fee. In the event that you make partial payments in months 1 to 6 we will not extend the period of payment of the set-up fee but reserve the right to increase our monthly set up fee to a maximum of 49%. Our Set-up fee covers the costs of;  • reviewing your debt illustration plan  • calculating the reduced repayment proposals  • preparing your financial statement  • talking to your creditors – renegotiating your monthly debt payments  • providing information to your creditors. Once we are in receipt of your completed & signed paperwork and your first monthly payment, we will make a proportional payment to each creditor that you have provided payment details for within 5 working days of received payments being cleared.