Apply Credit Card Debt IVA Advice
No Bankruptcy. No loss of Dignity.
An IVA (Individual
Voluntary Arrangement) is a debt relief plan set up by the government
of the day to try to eliminate personal debt and to deal with the issue
of individual insolvency. Our associates are licenced to give advice and
do so on the basis of the fact that Individual voluntary arrangements
can never be one-size-fits-all fixes to any financial problem, because
each individual situation is so different.
The needs of one
person can be very different from the needs of the next. Any advice
given must thus reflect the diversity of the situation people find themselves
Normally an IVA
will be set to run for five years (sometimes less) and when this has
finished all debts are cleared from the credit record. During this time
creditors are not allowed to contact the debtor in any way. The IVA
has the advantages of bankruptcy while having none of the disadvantages.
An IVA will write
off the bulk of a person's debt at the start of the plan (although be
wary of the exaggerated claims in some advertising: it is rarely more
than 60 or 65 per cent of total unsecured debt which can be cancelled
in this way). All good IVA advice of this sort will ensure that you
get the optimum results with the lowest monthly repayment options together
with the highest proportion of debt written off at the outset.
So fill in the form
below for impartial advice which is right for your
own personal circumstances.
steps to look into credit card debt IVA advice you are putting yourself
on the road to security and so efficiently ensuring a new life for yourself
and your family. Choices made now will be the beginning of that process.
An IVA is legally binding
and there are certain things that the creditors must never do when the
IVA has been drawn up. This embargo covers not being permitted to phone
you or send you letters, or to contact you in any way. If the creditor
or his one of his agents (i.e. a debt collector) tries to contact you
they are in breach of the IVA and would be subject to punishment. Creditors
(such as banks, etc.) must cease making phone calls and writing letters
and must on no account try to intrude in the life of the client.
Following recent changes
in the law, individual voluntary arrangements have brought a much kinder
way to deal with personal debt. An individual voluntary arrangement
is an acceptable substitute for going bankrupt and carries none of the
stigma. It is the best way to handle personal insolvency. Under the
new law, a properly conducted IVA will immediately write off up to 60
percent (often more) of personal debt at a stroke. Your keen interest
in credit card debt IVA advice would be well rewarded by the improvement
brought about by its application.
individual voluntary arrangements
are generally set to run over the course of a 60 month span, though
sometimes it can be varied at the outset to become acceptable to individual
requirements. North of the border, where such arrangements are referred
to as protected trust deeds, the period is usually 3 years but in some
instances may be for four or five years. With both the Individual voluntary
arrangement and the protected trust deed the debtor client is kept safe
from creditors by the various insolvency laws and their debts are completely
and absolutely written off at the end of the term.