Apply Credit Card Debt IVA Programme
No Bankruptcy. No loss of Dignity.
A credit card debt
IVA programme is a form of debt relief plan set up by government to
provide a solution to the problem of personal debt and to deal with
the growing issue of individual insolvency. Our associates are licenced
to give advice on the basis of the fact that Individual voluntary arrangements
are never designed to be one-size-fits-all solutions to any financial
problem, as each person's situation is so different.
The needs of one
household may vary greatly from the needs of the next. Any debt advice
given must thus take into account the unique nature of the situation
in which people live.
In general an Individual
Voluntary Arrangement will run for sixty months (sometimes less) and
when the term is complete all debts are discharged from a person's credit
profile. During all this time no creditors are permitted to harass or
pursue the debtor in any way. The credit card debt IVA programme carries
with it all the advantages of bankruptcy and none of the drawbacks.
An instrument such
as this writes off the bulk of your debt at the beginning of the plan
(although beware of the exaggerated claims made in some advertising:
it is rarely more than 60 or 65% of total debt which may be 'written
off' in this way). Any good IVA advice will make sure you get the optimum
results with the lowest repayments together with the
greatest percentage of debt write-off.
So fill in the application
form for independent and impartial advice which is right for your own
enquiries about a credit card debt IVA programme you're putting yourself
on the road to probity thereby efficiently ensuring a new life for yourself
and your family. Any choices made now will start this process.
The plan will be drawn up
by an insolvency practitioner (or IP) who will be academically qualified
in such matters and have a good working knowledge of a credit card debt
IVA programme. The total amount of unsecured debt and the total number
of creditors will be taken into consideration. The income and expenses
will also be looked at and a monthly balance sheet will be drafted with
the agreement of the client and the creditors. This will allow for the
important household expenses to be paid first before the creditors are
considered. The total capital debt will be reduced by sixty percent
or more, and the excess income of the client is used every month to
pay off the debt in a structured way and on a much reduced basis than
Following recent changes
in the law, Individual voluntary arrangements have been made possible.
An Individual voluntary arrangement is an acceptable and easy alternative
to going bankrupt and has none of the shame or stigma attached. It is
the civilised way to deal with insolvency or bad debt issues. Under
government rules, a properly conducted IVA will write off up to sixty
per cent (often more than this) of your personal debt immediately. Your
interest in a credit card debt IVA programme would be well rewarded
by the enhancement enabled by its use.
Individual voluntary arrangements
(IVAs) are usually set up to run over the course of a five year term,
although sometimes it may be varied to match personal requirements.
In Scotland, where these are called trust deeds or protected trust deeds,
the span is generally 36 months but in some instances may be four or
five years. With both the Individual voluntary arrangement and the trust
deed the client is protected from aggressive creditors by the various
insolvency laws and all debts are totally and utterly cleared at the
close of the period.