Apply Debt Settlement IVA Plan
No Bankruptcy. No loss of Dignity.
A debt settlement
IVA plan is a debt management programme set up by the government of
the day to provide a solution to personal debt and deal with the issue
of individual insolvency. Our associates are licenced to give advice on
the understanding that IVAs are not one-size-fits-all fixes to any debt
problem, because each person's situation is so different.
The needs of one
household can be vastly different from the needs of another person or
household. Any IVA advice given must take into account the distinctiveness
of the situation in which people live.
Generally a debt
settlement IVA plan will run for 60 months and after the term has finished
all debt is cleared from a person's record. During all this time no
banks are permitted to pursue the debtor in any way. The IVA carries
with it all the benefits of bankruptcy and none of the drawbacks.
An IVA writes off
most of your debt at the start of the programme (although be wary of
the exaggerated claims made in some advertising: it is seldom more than
60 or 65 percent of unsecured debt which can be cancelled). All good
IVA advice of this nature 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 fill in the form
for impartial and independent IVA advice which is right for your own
voluntary arrangement is a legal document and there are things that the
creditors are forbidden to do when the IVA is drawn up. This prohibition
includes not being able to contact you by phone or letter, or to contact
you in any way at all. If the creditor or his agent (i.e. a debt collecting
company) even tries to contact you during this time then they are in breach
of the insolvency laws and could be punished by the courts. All creditors
(such as banks, etc.) have to stop calling and writing letters and should
on no account seek to impede the day to day life of the client.
IVAs or individual voluntary
arrangements are generally configured to run over the course of a sixty
month span, though this may be changed to fit personal necessities.
North of the border, where such arrangements are called Protected trust
deeds, the span is typically 36 months but in some instances may be
four or five years. In both the Individual voluntary arrangement and
the trust deed the debtor client is defended from predatory creditors
by the relevant insolvency laws and their debts are fully and absolutely
removed at the close of the period (however long that may set to run).
It is true that the careful
use of a debt settlement IVA plan can help folk reorganise their busy
lives. It is a diligently structured program designed to get ordinary
people out of financial difficulties and brought in in 1986 and designed
to enhance the existing relatively draconian bankruptcy laws which were
in place largely since the previous century.
By making enquiries about
a debt settlement IVA plan you are setting yourself on the road to probity
and so effectively ensuring a new life for yourself. Choices made now
will start that process.