What is an IVA?
IVA stands for Individual Voluntary Agreement and it’s a Government run initiative to help you sort out your debt problems.
So far so good?
A lower monthly repayment is just the tip of the iceberg as far as the
benefits of an IVA are concerned. Here are some other advantages:
It guarantees you won’t lose your home.
It allows up to 70% of your debt to be written off.
It freezes your debt level - so you won’t suffer the stress of watching
it rise each month.
It makes it possible to be debt free within 5 years.
- Upto 70% Written Off! - You could instantly write off upto 70% of your debts
- In 60 Months... You could be debt free in 60 months
- Affordable - You could repay an affordable fixed
monthly sum
- Start my IVA application today
If that’s not enough to make you smile, then the thought that you’ll have no more calls and letters from creditors should do the trick.
We’ve set it up so we do the work. A licensed Insolvency Practicioner negotiates with your creditors on your behalf, to make the process completely painless for you.
Even if bankruptcy looks like your only option, the IVA throws you a lifeline that works. The whole point is to get you back in control, give you peace of mind and help you kick debt into touch. IVA's do not have the stigma that is attached to bankruptcy, so the impact on the reputation is minimal. IVA's are not advertised in the press. However, they will be recorded on the IVA register held by the DTI.
So, if you have unsecured debts of £15,000 or above, and would like to take advantage of an IVA, please use the form to get in touch with us. Simply let us know what time is most convenient for you and we can call, email or text you.
What happens when
I apply for an IVA?
If you would be best served by entering into an IVA, we do all the preparatory
work for you. After the initial steps have been taken, and we believe
you meet the criteria for an IVA, we then pass your case to our own in-house
Insolvency Practitioner (IP). Our IP then acts on your behalf in all correspondence
with your creditors and the preparation of you financial statement, once
the case is underway.
How can an Insolvency
Practitioner help me?
Our Insolvency Practitioner, with your help, will produce a written proposal.
This will be sent to your creditors in advance of a pre-determined creditors
meeting, usual held at the Insolvency Practitioners offices in the absence
of both yourself and your creditors. (You do not have to attend a Creditor’s
meeting.) Once your proposal has been finalised our IP, if he deems necessary,
will apply to your local County Court for an Interim Order. The Interim
Order provides you with valuable protection against debt enforcement such
as CCJ's, Attachment Orders, and even Bankruptcy Orders.
Are there any disadvantages to an IVA?
IVA's do not have the stigma that is attached to bankruptcy, so the impact on the reputation is minimal. IVA's are not advertised in the press. However, they will be recorded on the IVA register held by the DTI. As you are currently experiencing difficulties paying your debts, your credit rating is likely to have been affected already and entering any further IVA or Debt plans could effect your rating further.