An IVA (Individual Voluntary Arrangement) is a debt relief plan set
up by the government to provide a solution to the problem of personal
debt and to deal with the growing issue of individual insolvency. Our
debt consolidation agency clients are licenced to give IVA advice on
the basis that Individual voluntary arrangements are not one-size-fits-all
solutions to any problem with money, as each person's situation is different.
The needs of one
household can be vastly different from the needs of another person or
household. Any debt advice given by a debt consolidation agency must
reflect the uniqueness of the situation in which people live.
Generally an IVA
will be set to run for five years and when this has finished all debt
is cleared from a person's credit profile. During all this time none
of the banks or debt collectors are permitted to harass the debtor.
The IVA has the advantages of bankruptcy and none of the drawbacks.
An IVA writes off
the larger part of your debt at the start of the programme (although
be wary of the exaggerated claims made in some advertising: it is rarely
much more than 60 or 65% of total unsecured debt which may be 'written
off' in this way). All good IVA advice of this nature will make sure
that you get the best results with the lowest repayment options
together with the highest percentage of debt written off.
So complete the
form below for impartial and independent advice which
is right for your own circumstances.
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have a super-quick and highly professional debt consolidation service.
A qualified and experienced Insolvency Practitioner will be personally
assigned to you and you will get a elephone call back from him or her
very quickly (or whenever you specify on the online form).
To A Debt Consolidation Agency?
true that the careful use of a debt
consolidation agency can help people reorganise their lives and
improve their overall sense of well being. It is a diligently structured
plan devised to get ordinary people out of financial difficulties and
made law by the government in 1986 as part of a series of measures to
enhance the existing harsh bankruptcy laws that were in place.
Under recent government
law, Individual Voluntary Arrangements have brought a much kinder way
to deal with personal debt. An Individual Voluntary Arrangement is an
acceptable alternative substitute to bankruptcy and carries none of
the stigma. It's the best way to handle personal insolvency. Following
the law, a properly conducted IVA will immediately write off sixty per
cent (occasionally more) of your personal debt immediately. Your keen
interest in a debt consolidation agency should be rewarded by the transformation
enabled by its application.
IVAs are normally
configured to run over a 5 year term, though sometimes it can be altered
to fit with personal necessities. North of the border, where such arrangements
are referred to as Protected Trust Deeds, the term is generally 36 months
but in some instances may be four or five years. In both the IVA and
also the trust deed the client is defended from aggressive creditors
by the various insolvency laws and all debts are fully and utterly cleared
at the completion of the span (however long that may be set).
The debt management
plan will be carefully compiled by an insolvency practitioner (or I.P.)
who is academically qualified and will have a practical working knowledge
of a debt consolidation agency. All the unsecured debt and all the creditors
will be taken into account together. Incomings and outgoings of the
client will also be considered and a monthly balance sheet will be carefully
compiled with the consent of both the client and the creditors. This
will allow essential bills to be paid before any of the creditors are
considered. The total capital debt can be decreased by as much as sixty
percent or more, and any money left over is set aside to reduce any
remaining debt in a painless and controlled way and on a greatly reduced
basis than before.
Now go back
up to the application form and change your life today!
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