IVA - The smart way to beat debt
An IVA is legal process for those with unaffordable unsecured debts over £15,000.
An IVA achieves all the following:
- Reduces debt by up to 75%
You only repay what is affordable after taking into account your personal circumstances. - Reduces repayment period.
In 60 months you will be debt free, the rest is written off.
This is dependant on approval of 75% (by value of the debt) of your creditors, and provided you maintain the payment schedule. - Stops interest and charges.
Your debts will not increase and interest will be frozen.
- Stops harassment.
Stops creditors and debt collectors from chasing you. - Stops court action.
Can stop bankruptcy proceedings and bailiffs.
An IVA is an less severe alternative to bankruptcy.
An IVA is a no Fees Solution.
There are costs involved in setting up and IVA, however, fees are deducted from the money paid to your creditors. Fees are not added to your payments.
I want to do an IVA - What next ?
Call us or submit the Instant Advice form. We will need to ask you about your financial circumstances.
- We will prepare all the paper work.
- You will need to instruct us to act on your behalf.
- Once instructed, we will contact all your creditors.
- We will request creditors suspend any action and freeze interest.
- We will draft your offer based on the information you have provided.
- When you are happy with the proposal, sign and return it to us.
- We will then carry out the administration process on your behalf.
- You do not have to attend the court or be involved in meetings or negotiations with creditors.
For more details see Setting up an IVA.
For those that qualify, an IVA can be the best way to sort out serious debt problems.
See Also:-
- IVA examples - representative of typical cases.
- Setting up an IVA - Your role, our role and time frame explained.
- IVA or Bankruptcy? - Why an IVA can be a better bankruptcy alternative.
- IVA or Debt Management ? - Basic differences explained.
- IVA questions - Searchable database of common IVA questions.