Who should apply for an IVA?
If you currently have financial debts and are unable to settle them you may apply for an IVA. We offer free advice and support no matter how severe your financial situation is.
You may apply for an IVA even if |
- the value of your assets, if sold, would cover your debts.
- you are subject to a Bankruptcy Order. Upon approval of an IVA your bankruptcy will be annulled.
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| Pros and Cons with an IVA. |
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Pros: |
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- Frozen debt interests and charges.
- Your case is strictly confidential and will not be published in the local paper.
- Your case will not affect your professional life and you are able to continue your career without interruption.
- A fixed repayment period, normally no longer than 5years.
- One solid repayment fee, usually a minimum of £200/month.
- Bankruptcy is avoided.
- Your creditors deal with our Insolvency Practitioners to relieve you of phone calls and written reminders.
- IVA is a legal agreement and will protect you from creditors taking court action.
- All remaining debts will be written off at the end of an IVA, if fulfilled successfully.
- On completing an IVA your credit history is cleared enabling you a fresh start.
- Once in an IVA, creditors cannot change the conditions of the agreement unless approved by you.
- You will be involved in the choice of assets made available to creditors.
- As long as %75 of your creditors all agree with the terms of your IVA the other 25% are legally bound to the agreement as well.
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Cons: |
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- Unfortunately IVA’s are only available to you if you’ve obtained a debt of £15000 or more.
- 75% of your creditors have to accept and agree on the proposed IVA for it to pass.
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If all the requirements for the IVA are not met, and therefore fails, you may still be susceptible to bankruptcy.
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Collaborating on your IVA with us you will benefit you because: |
- We don’t demand an up-front fee like some companies.
- You will only have to commit to one affordable payment a month.
- You are still in control of your finances.
- We take all your creditors calls and demanding letters.
- We will help you return to financial normality.
- If no progress is made, no fee will be charged. That’s how we operate!
- We are educated and aware of the creditor’s likes and dislikes and therefore waste no time.
- You will receive an expert advisor who will see your proposal through right to the end.
- We have a range of communication choices, online, phone or in person. Which is most convenient for you?
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Contact our IVA Experts for free advice and let us help find a solution to your debt problems TODAY.
or click here to contact us
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