IVA - How can it help you?
- Write off all of the debt you cant afford!
- Clear debts in 60 months!
- Stop creditors calling!
- Government legislation!
- Stop all creditor letters!
- 1 lower, affordable monthly payment!
- Prevent or stop legal action - including bankruptcy!
We CAN help you to reduce your monthly re-payments today. How?
With an IVA you can reduce your monthly repayments by upto 80% and have some of the debt written off.
An IVA (Individual Voluntary Arrangement) is a legal solution that protects you from creditor legal action. An IVA is part of the government Insolvency Act of 1986. If you have over £15,001 of un-secured debts & owe to 3 or more creditors an IVA may be the solution for you.
Call us free to find out if you qualify for an I.V.A on 0800 0284422 - lines open 9am - 9pm 7 days a week.
How much of my debts will be written off?
In our experience, it is possible to write off up to 70% of debt with an IVA (Individual Voluntary Arrangement)
Are there different types of IVA?
Some IVA's are set up on the basis of using a lump sum to make offers to the creditors rather than making monthly payments. This will usually mean raising a lump sum on your assets. Some IVA's are a mixture of both a lump and monthly payment offer. We will assess your case and recommend the best option for you.
Call us free to find out if you qualify for an I.V.A on 0800 0284422 - lines open 9am - 9pm 7 days a week.
How do I arrange An IVA?
An IVA is setup and managed by our Insolvency Practitioner, Call us for free advice and assessment of your debts. If an IVA is the best debt solution we will prepare your case and appoint one of our Insolvency Practitioners to act on your behalf.
Call us free to find out if you qualify for an I.V.A on 0800 0284422 - lines open 9am - 9pm 7 days a week.
How long will it take to arrange an IVA?
Usually an IVA can be set up in six to eight weeks. Our Insolvency Practitioner will draft a proposal to your creditors and invites them to a Creditors Meeting. At this meeting the Insolvency Practitioner will negotiate on your behalf with your creditors, who will vote on whether to accept or reject the IVA proposal.
Often creditors send their vote and don't actually come to the meeting, but it is vital that all your creditors are contacted. If they have no notice of the meeting they do not have to be bound by the terms of the IVA and can pursue you for their debt separately.
Call us free to find out if you qualify for an I.V.A on 0800 0284422 - lines open 9am - 9pm 7 days a week.
What happens at the Creditors Meeting?
If 75% of your creditors 'by value' who actually vote agree to the IVA, then the rest are bound by the IVA, even if they voted against it or did not vote at all. 'By value' means the creditors to whom you owe 75% worth of debt, not the number of creditors you have.
Call us free to find out if you qualify for an I.V.A on 0800 0284422 - lines open 9am - 9pm 7 days a week.
If my proposal is accepted, what happens next?
Once the IVA is agreed our Insolvency Practitioner will supervise the arrangement and make sure that thing run smoothly. However we will also take an interest in the case and We will keep you up to date at all times on the progress of your IVA. An IVA can help you avoid bankruptcy, but you need to keep making the payments that have been agreed. It is therefore very important that we know the true extent of your debts - we need you to be completely honest with us about your financial circumstances, that way we can do our best for you and get the right settlement for you.
Call us free to find out if you qualify for an I.V.A on 0800 0284422 - lines open 9am - 9pm 7 days a week.
My creditors are taking me to court!
Once the Insolvency Practitioner has prepared your proposal, an application can be made to the county court for an Interim Order. This stops your creditors from starting bankruptcy proceedings against you. It also stops any other enforcement action without the court's permission whilst the Interim Order is in force. This can be done in a week.
Call us free to find out if you qualify for an I.V.A on 0800 0284422 - lines open 9am - 9pm 7 days a week.
Are there any disadvantages to an IVA?
If you do not keep up payments for the entire arrangement you will most likely be made bankrupt.
If you do not keep up with contractual loan or debt repayments your credit rating will be effected.
If you are a homeowner you may have to re-mortgage your property.
Call us free to find out if you qualify for an I.V.A on 0800 0284422 - lines open 9am - 9pm 7 days a week.
