Independent Advice
No Bankruptcy. No loss of Dignity
IVA Expert
IVA Expert: The Way Out of your Debt Without More Debt!
Apply For The 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. 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.
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.
If you have at least two accounts in debt, and total debts of £2,000 or more, use the form below to see if you qualify. (If you owe less than this, or are on state benefits, then use this link to apply.)
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Please be aware that figures entered need to be accurate by law, and to give the best service to you. It is extremely important that you budget for all necessary expenditure including rent or mortgage, council tax and utility bills, etc., and any other necessary outgoings related to the upkeep of your household and inrelation to any specific circumstances that may relate to you. This website only collects data on behalf of debt management professionals (they are the IVA experts), from which it will receive affiliate remuneration for data collection only and does not itself engage in any debt management services. Other debt management options are available and may be more suitable. People entering into an IVA or debt management will have this entered on their credit profile and this may affect their ability to get credit in the short term or even in the long term in some cases. It is free to apply from this website; you will be given advice by debt management professionals and a 'cooling off' period, by law, to decide whether or not the debt management plan is suitable for you, and you should be aware that a fee will be chargeable upon a successful arrangement, as with any commercial transaction. Failure to meet the repayments on an IVA or any debt management programme may result in serious consequences, including, but not limited to, bankruptcy. Bankruptcies, CCJs and similar defaults will be entered into a public register and will remain there for a statutory period of not less than six (6) years.
Consumer Credit Licence number 633327.
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. 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.
Take a look at the Insolvency Service's leaflet called 'In Debt', downloadable here.
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