Apply Debt Reduction IVA Plan
No Bankruptcy. No loss of Dignity.
A debt reduction
IVA plan is a form of debt management programme set up by H. M. Government
to try to eliminate personal debt and to deal with the issue of individual
insolvency. Our associates are licenced to give Individual Voluntary Arrangement
advice and do so on the basis of the fact that Individual voluntary
arrangements were not designed to be one-size-fits-all quick fixes to
any problem with money, because each person's circumstances are so different.
The needs of one
household can vary greatly from the needs of another person or household.
Any debt advice given must thus reflect the distinctive nature of the
situation in which people find themselves.
A normal debt reduction
IVA plan will be set to run for sixty months (sometimes less) and after
the term has finished all the debt is discharged from a person's credit
profile. During all this time none of the banks are allowed to harass
the debtor. The IVA has the advantages of bankruptcy while having none
of the disadvantages.
An instrument such
as this will write off the larger part of a person's debt at the start
of the programme (although beware of the claims made in some circles:
it is rarely more than 60 or 65 percent of unsecured debt which can
be cancelled). All good IVA advice of this sort will ensure that you
get the optimum results with the lowest monthly repayment options together
with the highest percentage of debt written off.
So complete the
online form below for impartial advice which is right for your own personal
It is true
that a debt reduction IVA plan will help folk reorganise their busy lives
and improve their overall sense of well being. It is a carefully worked
out program designed to get ordinary people out of their financial difficulties
and brought about in the 1980s to ease the relatively draconian individual
insolvency laws that were in place largely since the previous century.
The debt management plan
will be drawn up by an insolvency practitioner (or I.P.) who will be
qualified in such matters and have a good working knowledge of a debt
reduction IVA plan. The total amount of debt and the total number of
creditors will be considered together. The income and expenditure will
be considered as well and a monthly or weekly expenses list will be
carefully compiled with the consent of the client and also the creditors.
This will allow for the important household expenses to be paid first
before the creditors. The total capital sum will be diminished in this
way by 60 percent or more, and any money left over is set aside to reduce
the remaining debt in this very structured way and on a greatly reduced
basis than before.
Under recent laws ratified
by H.M. Government, Individual voluntary arrangements have been made
possible. An Individual voluntary arrangement is an easy and acceptable
substitute for going bankrupt and has none of the shame or stigma attached.
It is an excellent way to deal with insolvency or bad debt issues. In
accordance with the new law, a well constituted IVA will immediately
write off sixty percent (often more than this) of your personal debt
at a stroke. Your interest in a debt reduction IVA plan should be rewarded
by the transformation in quality of life enabled by it.
An IVA is binding and there
are a number of things that the creditors may not do now the Individual
voluntary arrangement has been drawn up. This restriction includes not
being permitted to contact you by phone or letter, or indeed to contact
you in any way for as long as the IVA is in force. If the creditor or
his agent (i.e. a debt collector) attempts to contact you they are in
breach of the IVA or debt management agreement. All creditors have to
stop phoning and writing letters and must on no account seek to intrude
upon the day to day business of the client.