IVA's

What is an IVA?

An IVA is a highly regarded method of helping people deal with their debt problems, without having to go into Bankruptcy. It is a legal agreement between you (the debtor) and your creditors whereby you have an an arrangement to pay a portion of your debts at an amount that is affordable to you. This is normally a monthly payment for a fixed period of time (usually 3-5 years), or can be a one-off lump sum. When the IVA is complete, the remainder of the debts are done away with and you can get a new fresh start.

Your IVA is normally handled by an Insolvency Practitioner and one of our case supervisors for the duration. We have a good relationship with most creditors and we can help you reach a compromise with them that could help you avoid Bankruptcy.

It is also a private and confidential arrangement between our advisors, you and your creditors which can ensure your home is protected and your job isn't at risk.

Advantages of an IVA

• Can be for an individual, joint, a company or even self employed
• It is a private legal agreement
• Complete DEBT FREEDOM is the outcome
• All interest is FROZEN 
• Tenants and Homeowners welcome 
• 1 easy monthly payment that is within your affordable budget OR one off lump sum payment 
• Protection of creditors 
• Creditor Pressure is stopped 
• No upfront fees (If you are unsuccessful in your IVA proposal, we will not charge you)
• No restrictions, like in Bankruptcy 
• A designated supervisor will look after your case

Disadvantages of an IVA

• Can be a longer repayment period than Bankruptcy 
• Failure to comply with your IVA could lead to Bankruptcy 
• No credit for the duration of your IVA 

 
Requirements For an IVA

Do you have:

• Debts over £15,000?
• mostly unsecured debts?
• a regular income?

The points above are only guidelines. It could be possible that you will qualify for an IVA. To find out contact us now  alternatively fill out the form on this page. One of our friendly advisors will be glad to help better your situation.
*Any advice and help is totally free and confidential
 

Click here to find out more about IVA's