Apply Debt Reduction IVA
No Bankruptcy. No loss of Dignity.
A debt reduction
IVA is a form of debt relief plan set up by H. M. Government to eliminate
personal debt and to deal with the issue of personal insolvency. Our
clients are licenced to give IVA advice and do so on the basis that
Individual voluntary arrangements are not designed to be one-size-fits-all
cures to any problem with money, because each person's circumstances
The needs of one
household or one individual can be very different from the needs of
the next. Any debt reduction IVA advice given must thus reflect the
distinctiveness of the situation in which people live.
In general an Individual
Voluntary Arrangement will run for five years (sometimes less) and after
this has completed all the debts are cleared from a person's record.
During all this time none of the creditors are permitted to harass or
pursue the debtor. The debt reduction IVA carries with it all the benefits
of bankruptcy while having none of the drawbacks.
An IVA writes off
most of a person's debt at the beginning of the programme (although
be wary of the claims made in some advertising: it is seldom more than
60 or 65% of total debt which can be 'written off' by this means). All
good IVA advice of this sort will ensure you get the optimum results
with the lowest monthly repayment options together
with the highest proportion of debt written off.
So fill in the application
form for independent and impartial IVA advice for your own personal
reduction IVA will be carefully drafted by an insolvency practitioner
(or IP as they are often known) who is academically qualified in such
matters and will be very familiar with a debt reduction IVA. The whole
of the debt and all of the creditors will be taken into account. Income
and expenditure of the client will also be considered and a monthly or
weekly expenses list will be drawn up with the consent of both the client
and the creditors. This will allow essential bills to be paid before the
creditors are considered. The total capital debt can be cut by as much
as sixty percent or more, and any monies left over is used to service
the remaining debt in this very structured way and on a considerably reduced
Under recent laws ratified
by H.M. Government, individual voluntary arrangements have been brought
in. A debt reduction IVA is an acceptable and easy alternative choice
to bankruptcy and has none of the shame or stigma attached. It's an
excellent way to deal with insolvency or bad debt issues. Persuant to
the new law, a properly conducted IVA will immediately write off 60
percent (sometimes more than that) of your debt at a stroke. Your keen
interest in a debt reduction IVA would be well rewarded by the transformation
in life quality brought about by its application.
individual voluntary arrangements
(IVAs) are normally configured to run for a 5 year span, although this
can be changed to meet with personal necessities. North of the border,
where these arrangements are known as protected trust deeds, the period
is normally 3 years but in some instances may be over four or five years.
In both the IVA and the protected trust deed the debtor client is safeguarded
from aggressive creditors by the insolvency laws and all debts are fully
and absolutely removed at the end of the period (however long that may
be set to run).
An Individual voluntary
arrangement is a legal document and there are things that creditors
are forbidden by law to do now the individual voluntary arrangement
is drawn up. This prohibition includes not being allowed to contact
you by phone or by letter, or to contact you at all as long as this
arrangement exists. If the creditor even attempts to contact you during
this time they will be in breach of the IVA or debt management plan
and could be punished. Creditors (such as banks, etc.) must cease all
phone calls and letters and must on no account try to frustrate the
business of the debtor client.