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DEBT MANAGEMENT
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0871 245 8800
An Individual Voluntary Arrangement (IVA) is a formal legal agreement between you and your creditors. IVA’s are popular because they protect you from any recovery action that your creditors may take, and normally they involve your creditors writing off part of what you owe them (typically between 30-50%).
Once an IVA has been accepted by creditors, you will make an agreed monthly payment over a fixed period of time (normally 5 years). Once you have made all the required monthly payments, the balance of monies due to your creditors will be written-off.
An IVA is appropriate for individuals carrying on business, or those that need to be a director of a limited company.
Once an IVA has been accepted by creditors, you will make an agreed monthly payment over a fixed period of time (normally 5 years). Once you have made all the required monthly payments, the balance of monies due to your creditors will be written-off.
An IVA is appropriate for individuals carrying on business, or those that need to be a director of a limited company.
Once an IVA is approved it is legally binding on all creditors, and they cannot continue to harass or pursue you.
Should you fail to make all the payments, then your IVA will fail and you will be made bankrupt.
Start to write-off debts today - for free advice on IVA's, and to start your IVA application, speak to a qualified expert on 0871 245 8800.
Should you fail to make all the payments, then your IVA will fail and you will be made bankrupt.
Start to write-off debts today - for free advice on IVA's, and to start your IVA application, speak to a qualified expert on 0871 245 8800.
The IVA proposal is a formal legal contract between you and your creditors. It contains details of your personal financial circumstances and how your debts have arisen, a list of your assets (if you have any), a list of your creditors and the amounts they are owed, and your proposal to creditors for repaying all or part of their debts. Your creditors will decide whether to vote in favour of your proposals at a creditors meeting.