IVA (Individual Voluntary Arrangement)

IVA or Bankruptcy? Why An IVA Is Better?

• Retain your home and possessions
• No negative publicity/stigma unlike bankruptcy
• IVA does not affect your professional status
• Liberty to operate bank account (without overdraft facility)
• No fees or legal proceedings

The advent of IVA has introduced a legally binding solution which freezes all the interest rates on your debts and helps to bring down your payment to an affordable and easy to manage amount. As a debtor you don’t have to reel under the pressure of bad debts and creditor harassment anymore. If your debts are above £15,000 and you can afford £250-£300 as monthly payments, an IVA may be the best way out for you!

What Is An IVA?

IVA was introduced as a result of the Insolvency Act of 1986. Touted to be the best alternative for bankruptcy, IVA has helped troubled debtors to reach a legally binding settlement with their creditors. An appointed licensed Insolvency Practitioner (IP) will prepare an IVA proposal for you, file Interim Order in court and organize a creditor’s meeting to determine whether your IVA is accepted or rejected. 75% of your creditors (by value) need to agree on the IVA proposal for your IVA to come into being.

Once your IVA comes into being you will pay what you can realistically afford over the period of time (as determined by the agreement). Following successful completion of your IVA your creditors will write off your remaining debt. Why not CONTACT US NOW to find out how we could help you?

IVA Advice – Breather from Your Bad Debts!

Take advantage of our clear and free IVA advice to make sure that you are making the right choice! Also remember, not everyone is eligible for an IVA. When you choose IVA advice with us, we will determine whether you are eligible for an IVA and if you are, we will provide you with IVA information and help. With us, you will be working with well trained professionals who keep your welfare in mind. CONTACT US NOW!