Apply Credit Card Debt Reduction IVA
No Bankruptcy. No loss of Dignity.
A credit card debt
reduction IVA is a form of debt management plan set up by H M Government
to try to eliminate personal debt and deal generally with the growing
issue of individual insolvency. Our associates are licenced to give advice
on the understanding that Individual voluntary arrangements were not
designed to be one-size-fits-all fixes to any financial problem, because
each person's circumstances are so different.
The needs of one
household or one individual may be very different from the needs of
another person. Any IVA advice given must thus reflect the diversity
of the situation people find themselves in.
A normal Individual
Voluntary Arrangement will be set to run for 60 months and after this
completes all debts are cleared from the credit profile. During the
time of the IVA none of the banks are permitted to contact the debtor
in any way. The IVA carries with it all the benefits of bankruptcy and
none of the drawbacks.
An IVA will write
off the larger part of your debt at the start of the plan (although
be wary of the exaggerated claims made in some circles: it is rarely
much more than 60 or 65% of total unsecured debt which can be cancelled
in this way). Any decent IVA advice of this nature will make sure you
get the best results with the lowest monthly repayments together with
the highest proportion of debt write-off at the outset.
So fill in the form
below for impartial advice which is right for your own personal situation.
will be carefully compiled by an insolvency practitioner (or IP) who will
usually be properly qualified and have a good working knowledge of a credit
card debt reduction IVA. The total amount of debt and all of the creditors
will be taken together. Incomings and outgoings will also be considered
and a monthly balance sheet will be compiled with the consent of both
the client and the creditors. Essential bills will be paid before any
creditors. Total debt will be decreased in this way by sixty percent or
more, and the surplus income is used every month to service any remaining
debt in this structured way and on a greatly reduced basis than before.
In finding out about a credit
card debt reduction IVA you're putting yourself on the road to personal
security thereby effectively ensuring a new beginning. Choices made
now will begin the transformation.
An IVA is a legal instrument
and there are things that creditors are forbidden to do once the IVA
has been put into place. This embargo covers not being able to phone
you or write letters to you, or to attempt to reach you for as long
as the IVA is in force. If the creditor attempts to contact you during
this time they will be in breach of the IVA or debt management plan
and would be subject to punishment. Creditors must stop making phone
calls and writing letters and should not seek to conflict with the business
of the debtor.
Following recent changes
in the law, Individual voluntary arrangements have been brought in.
An IVA is an easy and acceptable alternative to going bankrupt and carries
none of the stigma. It's an excellent way to deal with insolvency or
bad debt issues. Following the new law, a well conducted IVA will write
off 60 percent (often more) of your personal debt immediately. Your
interest in a credit card debt reduction IVA would be well rewarded
by the improvement in quality of life brought about by its application.