Apply for a
Debt Consolidation IVA Programme for Free
No Bankruptcy. No loss of Dignity.
A debt consolidation
IVA programme is a debt management plan set up to provide a solution
to the problem of personal debt and deal generally with the issue of
personal insolvency. Our associates are licenced to give Individual Voluntary
Arrangement advice on the understanding of the fact that IVAs are never
designed to be one-size-fits-all solutions to any money problem, as
individual situations can vary so much.
The needs of one
household may be vastly different from the needs of another person.
Any debt consolidation IVA programme must thus reflect the uniqueness
of the situation in which people live.
In general an IVA
will run for sixty months and after the term has finished all debt is
cleared from a person's credit profile. During all this time none of
the creditors are permitted to pursue or harass the debtor. The IVA
has all the benefits of sequestration and none of the drawbacks.
A debt consolidation
IVA programme writes off most of your debt at the start of the programme
(although beware of the claims made in some advertising: it is rarely
much more than 60 or 65 per cent of total unsecured debt which may be
cancelled in this way). All good IVA advice of this sort will make sure
you get the best results with the lowest monthly repayment options together
with the highest percentage of debt write-off at the outset.
So complete the
application form below for independent and impartial advice
for your own situation.
It is certainly
the case that the careful use of a debt consolidation IVA programme may
well help folk reorganise their lives and improve things generally. It
is a carefully crafted plan designed to get people out of their financial
difficulties and brought in by h. m. government in the mid 1980s and designed
to ease the existing rather harsh individual insolvency rules that existed
largely since the previous century.
IVAs or individual voluntary
arrangements are generally designed to run for a five year term, though
it may be changed to correspond with personal requirements. North of
the border, where these are referred to as protected trust deeds, the
span is usually 3 years but in some cases may be for four or five years.
With both the individual voluntary arrangement and the protected trust
deed the debtor client is safeguarded from creditors by the insolvency
laws and all debts are fully and utterly cleared at the close of the
span (however long that may set to run).
An Individual voluntary
arrangement is a legal instrument and there are certain things that
creditors must never do once the IVA has been put into place. This embargo
includes not being able to contact you by phone or letter, or to contact
you in any way. If the creditor or his one of his agents (i.e. a debt
collecting company) tries to contact you then they will be in breach
of the insolvency laws and could be punished. All creditors must stop
all phone calls and letters and must on no account try to frustrate
the business of the debtor.
The IVA or debt management
plan will be compiled by an insolvency practitioner (or IP as they are
sometimes known) who will generally be academically qualified (and who
will normally be a member of an appropriate profession or similar background)
and have a working knowledge of a debt consolidation IVA programme.
All of the unsecured debt and all the creditors will be taken into consideration.
Income and expenditure will also be considered and a monthly or weekly
balance sheet will be carefully drafted with the agreement of both the
client and the creditors. Essential household bills will be paid first
before the creditors. The total capital debt can be cut by 60 percent
or more, and the excess income of the client is set aside every month
to reduce the debt in this very painless way and on a considerably reduced
basis than before.