Independent Advice
No Bankruptcy. No loss of Dignity
IVA Expert
IVA Expert: The Best Way Out of your Debt (Without More Debt!)
Apply For The Best IVA or Debt Relief Plan For Your Own Circumstances
Independent Advice. No Bankruptcy. No loss of Dignity.
An IVA (Individual Voluntary Arrangement) is a form of debt management plan set up by the government to deal with personal debt and to deal generally with the issue of personal insolvency. Our clients are IVA experts and are licenced to give Individual Voluntary Arrangement advice and do so on the basis of the fact that Individual voluntary arrangements can never be one-size-fits-all fixes to any financial problem, because each person's circumstances are different.
A normal IVA will run for sixty months and when the term has finished all the debt is discharged from a person's credit profile. During this time banks are not permitted to harass or pursue the debtor in any way. The IVA has the advantages of bankruptcy and none of the drawbacks.
An instrument such as this writes off the larger part of a person's debt at the start of the programme (although beware of the exaggerated claims in some advertising: it is seldom more than 60 or 65 per cent of unsecured debt which can be cancelled). Any decent IVA expert advice will make sure that you get the best results with the lowest repayments together with the highest percentage of debt written off at the outset.
So complete the application form for impartial and independent expert IVA advice for your own personal situation.
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IVA Expert
An IVA expert is a very useful ally and many people would jump at the chance of taking out an IVA as it is bound in law and discharges the holder from all debts at the end of the term. It is a more gentle answer to personal debt than other sterner measures like bankruptcy and carries none of bankruptcy's stigma.
Governments generally attempt to help folk who have suffered from insolvency in one way or another. There are recognised schemes like The diverse individual and corporate voluntary arrangements to take care of the procedures of personal and corporate insolvency and to ease what is always a difficult time, and an IVA expert is part of this. The object of this is meant to be towards safeguarding personal possessions wherever possible and also in protecting the property of individuals using legal instruments. This embraces individual assets and the wealth of corporations.
Most types of IVA will normally be made to run for sixty months, but often this will vary according to individual circumstances. At the end of the agreed term the debt is said to be discharged and the client discharged. Any records of the debts which have been registered corresponding to the applicant's name shall be cleared from the records by authority of the law.
One major advantage of an arrangement of this kind is that it may instantly cut thedebt by a massive proportion. Normally this is as high as 60%, often even more. This vast reduction in debt burden makes a considerable difference and is the main thing which distinguishes an IVA from an otherwise normal debt relief plan. Therefore anyone looking for debt relief should apply for this over a standard debt relief programme every time.
Our economy is a very complex entity. Expert economists and scientists of all descriptions try to understand how the whole thing works on an ongoing basis. It has been compared to a vast machine. Inevitably day to day economics impinges upon political and social needs and such things are chiefly governed by the society that we live in. Our community in turn is geared towards the need to succeed ensuring generally means risk. As long as we have this insidious aspect of risk we have also the terrible spectre of debt, both corporate and personal. Using an IVA expert is meant to offset this risk somewhat.
In order to be eligible for an IVA, the client must show proof of earnings which is in excess of a threshold amount and have arrears of more than a specified sum and no greater than a certain sum, and these figures may change from one insolvency company to another. Normally the income must be demonstrated to cover the cost of the repayments after other necessary bills have been paid including the mortgage and council tax. The average minimum amount of debt is around £2,000 although this can vary. A maximum threshold of £50,000 is sometimes given, although by using a broker or intermediary the applicant will be steered to best service to handle their own individual situation.
An Individual Voluntary Arrangement will be typically drawn up by an IVA expert or insolvency practitioner and will be drafted specifically to address the specific requirements. There is no typical method to such things as all circumstances differ, while some situations differ considerably. The selected insolvency practitioner will then prepare the best programme for the client's own individual circumstances and draw up a schedule of repayments and this is usually over five years, although in certain circumstances this can differ.
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