Summary :
 |
Affordable - only pay
what you can afford. |
|
Debt
write off - usually a large amount of your
debt is totally written off. |
|
Easier
budgeting - just one monthly payment to
your creditors. |
|
Reduce stress - we deal
with your creditors for you. |
|
Frozen
interest - creditors are obliged to freeze
interest from the date your IVA is approved. |
|
Fixed
payment period, usually 5 years. |
What is
an IVA?
An IVA is a forgiveness agreement
with your creditors to repay a proportion of
the amount you owe in full and final settlement.
In return for you committing to repay an affordable
part of your debt, your creditors are legally
obliged to freeze on-going interest and, on
successful conclusion of the IVA, will write
off the balance leaving you debt free.
More info
How much
will I have to pay?
The amount you pay will depend
on your disposable income and the amount is
agreed with creditors up front so there are
no nasty shocks during the IVA. You will know
exactly what you have to pay, and how long you
have to pay for. More
info
How long before I can
get an IVA?
Whilst the insolvency legislation
sets out some timescales for parts of the process
to set up an IVA, the overall timing is down
to you. Generally speaking it takes us about
6 weeks from our initial meeting with you to
getting approval for your IVA.
Will my
creditors agree to an IVA?
For your IVA to be approved a
majority, in excess of 75%, in value, of your
creditors who vote on your IVA, is required.
From our years of experience at providing debt
solutions we know what is likely to be acceptable
to creditors. Our success rate at getting IVAs
approved is 97%.
How will I know if an IVA is
right for me?
Before we suggest an IVA we will
talk through all the options open to you to
resolve your debt problems, as there may be
a more suitable option for you. We will also
explain the pros and cons of each option and
answer any questions you may have. More
info
Click
here to see how much we can save you
:
