An Individual Voluntary Arrangement (IVA) is
a government alternative to bankruptcy and could be your best
solution if you have a substantial amount of unsecured debt. An
IVA is a Government run scheme to help you out of serious Debt
Problems. We can offer you free advice on how you can be Debt
Free in 60 months with upto 75% of Debts Written off paying just
one affordable monthly payment
An IVA is a formal agreement between you and your creditors where
you will come to an agreement with the people you owe money to.
This agreement is to make reduced payments towards the total amount
of debt that you owe in order to pay off a percentage of what
you owe and generally after 5 years you will be cleared of debt.
Features of an IVA:
» The unpaid balance of your debts is written off
- as much as 75%
» One affordable monthly payment - usually for five years
» Protects you from further action by your creditors
» Your creditors are legally bound by the terms of the agreement
» No uncertainty: you know how much you pay and for how
long
» Can be used to prevent Bankruptcy proceedings against
you
» No public notices: an IVA is between you and your creditors
The IVA is legally binding, so as long as you keep up the repayments, when the term of your agreement has finished then you will be free from debt regardless of how much has been paid back.
If you are a homeowner, you will normally be required to release
any equity you have in your property by taking out a mortgage
or secured loan and paying this money to your creditors. Once
your creditors have agreed an IVA, all interest and charges on
your unsecured debts will be frozen.
Your supervisor in the IVA is required to review your financial
situation every year and, if there is a change in your financial
circumstances (such as a salary increase) then you may be required
to increase your contribution.
Why not take a minute to read through our FAQ
section and see what people are asking us.
For more information use our call back form on the right side of this page >>
 |
