Apply Debt Settlement IVA Programme
No Bankruptcy. No loss of Dignity.
A debt settlement
IVA programme (Individual Voluntary Arrangement) is a debt relief plan
set up by the government to try to eliminate personal debt and deal
generally with the issue of individual insolvency. Our associates are licenced
to give advice on the basis of the fact that Individual voluntary arrangements
can never be one-size-fits-all cures to any problem with money, because
individual circumstances are so different.
The needs of one
household can be vastly different from the needs of another person.
Any advice given must thus take into account the distinctive nature
of the situation in which people find themselves.
Normally a debt
settlement IVA programme will be set to run for sixty months and after
the term has finished all the debts are cleared from the credit record.
During all this time banks are not permitted to harass the debtor in
any way. The IVA carries with it all the benefits of bankruptcy while
having none of the disadvantages.
An IVA writes off
the bulk of a person's debt at the beginning of the programme (although
be wary of the exaggerated claims in some advertising: it is seldom
more than 60 or 65 percent of total unsecured debt which can be 'written
off' by this means). All good IVA advice of this nature will ensure
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
form below for impartial and independent advice which
is right for your own personal circumstances.
about a debt settlement IVA programme you are setting yourself on the
sure road to personal financial security thereby ensuring a new life for
yourself. Any life choices made now will be the start of that process.
IVAs are generally set to
run over the course of a sixty month period, although in some cases
it may be modified at the outset to become acceptable to personal necessities.
In Scotland, where these are known as protected trust deeds, the term
is typically 36 months but in some instances may be four or five years.
By using both the individual voluntary arrangement and the trust deed
the client is defended from predatory creditors by the various insolvency
laws and their debts are completely and utterly cleared at the end of
the span (however long that may be set to run).
It's certainly true that
use of a debt settlement IVA programme may help people reorganise their
busy lives. It is a carefully worked out program devised to help ordinary
people out of financial difficulty and ratified by the government of
the day as part of measures to ease the comparatively draconian insolvency
laws that were in place largely since the previous century.
The IVA or debt management
plan will be carefully drafted by an insolvency practitioner (or IP
as they are often known) who will be academically qualified in such
matters and would belong to a relevant professional body and have a
good working knowledge of a debt settlement IVA programme. All the debt
and all the creditors will be taken into account together. The income
and expenditure of the client will also be looked at and a monthly or
weekly balance sheet will be drafted with the knowledge of the client
and the creditors. Important bills will be paid before any of the creditors
are considered. The total capital debt will be cut in this way by sixty
percent or more, and any surplus income of the client is then set aside
every month to pay off the debt in a very painless and controlled way
and on a much reduced basis.