Apply Credit Card Debt Settlement IVA
No Bankruptcy. No loss of Dignity.
A credit card debt
settlement IVA (Individual Voluntary Arrangement) is a debt management
programme set up by government to eliminate personal debt and to deal
generally with the issue of personal insolvency. Our associates are licenced
to give advice and do so on the basis that Individual voluntary arrangements
can never be one-size-fits-all remedies to any problem with money, because
each person's circumstances are so different.
The needs of one household can be vastly different from
the needs of another person or household. Any debt advice given must
take into account the diversity of the situation in which people live.
Generally a credit
card debt settlement IVA will run for five years and after this has
completed all debt is discharged from a person's record. During the
time of the IVA creditors are not allowed to pursue the debtor in any
way. The IVA has the advantages of bankruptcy and none of the disadvantages.
An instrument such
as this will write off most of a person's debt at the start of the plan
(although be wary of the exaggerated claims made in some advertising:
it is rarely much more than 60 or 65 per cent of unsecured debt which
can be 'written off'). Any good credit card debt settlement IVA advice
of this sort will ensure that you get the optimum results with the lowest
monthly repayments together with the greatest percentage of debt write-off
at the outset.
So complete the online form below for impartial and
independent advice for your own personal circumstances.
It is true
that the professional use of a credit card debt settlement IVA may help
people reorganise their busy lives. It is a diligently structured plan
devised to help people out of their financial difficulty and brought about
by government as part of measures to ease the relatively harsh bankruptcy
rules that existed largely since the previous century.
An Individual voluntary
arrangement is a legal instrument and there are certain things that
the creditors must not attempt to do once the IVA has been put into
place. This embargo covers not being allowed to get in touch with you
by telephone or by letter, or indeed to contact you in any way for as
long as this arrangement exists. If the creditor or one of his agents
even attempts to contact you they will be in breach of the IVA or debt
agreement and could be punished. All creditors (such as banks, credit
card companies, etc.) must cease all letters and phone calls and must
not attempt to interfere with the business of the debtor client.
individual voluntary arrangements
are normally set up to run over a 5 year span, though sometimes this
may be augmented to satisfy individual requirements. North of the border,
where they are known as protected trust deeds, the span is typically
three years but may be 4 or 5 years. In both the IVA and also the trust
deed the client is protected from their creditors by the insolvency
laws and their debts are completely and utterly written off at the conclusion
of the term (however long that may be).
The debt management plan
will be carefully compiled by an insolvency practitioner (or I.P.) who
will be properly qualified in such matters and have a practical working
knowledge of a credit card debt settlement IVA. The total amount of
debt and all the creditors will be taken together. Income and expenses
will be considered as well and a monthly or weekly balance sheet will
be drafted with the knowledge of the client and also the creditors.
Important bills will be paid before the creditors are considered. The
total capital debt can be diminished by sixty percent or more, and any
surplus income is set aside to reduce the remaining debt in a very painless
and controlled way and on a much reduced basis.