Change your life with an Individual Voluntary Arrangement...
Debt is a fact of life for many people, but once you are in serious debt it can be a hard situation to get out of.
Whilst there is no easy solution to debt, an individual voluntary arrangement could be the answer. Not only can you legally write off a large proportion of your debt with an individual voluntary arrangement, but your payments during the life of your individual voluntary arrangement will be set at levels which you can realistically afford.
Am I suitable for an Individual Voluntary Arrangement?
An individual voluntary arrangement is a very complex legal procedure and your eligibility cannot be determined by a selection of basic questions. But if you can answer 'Yes' to the general statements below, then please get in touch and you can start to put an end to your debt worries:
- My Debts are over £15,000.
- I have three or more unsecured creditors.
- I can no longer afford my minimum payments.
If the above sound like your financial situation, then the chances are that you qualify for an individual voluntary arrangement.
An individual voluntary arrangement is the most effective way to write off debt without going bankrupt. It was introduced by the Government in 1986 as more viable alternative to bankruptcy.
What is the individual voluntary arrangement process?
An individual voluntary arrangement is a less drastic debt solution than going bankrupt, but it is still a very serious decision to make. Therefore you must make sure that you take specialist advice before committing to an individual voluntary arrangement.
You will be assigned an Insolvency Practitioner who will put your IVA proposal to your creditors. If this is approved then all interest and other charges on your debts are stopped. All you need to do is make one monthly payment to us which will be distributed fairly between your creditors.
Upon completion of your individual voluntary arrangement - which typically lasts for 60 months – any unpaid debt is legally written off as part of the individual voluntary arrangement.
We are individual voluntary arrangement specialists and we have arranged thousands of individual voluntary arrangement solutions on behalf of our satisfied customers. If you do not qualify for an individual voluntary arrangement then we can also talk you through a selection of other debt solutions available.
Remember that upon completion of your individual voluntary arrangement you will be debt free and can make a fresh start, so contact us today on 0808 131 9101.
Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.
Failure to complete the term of an IVA can result in bankruptcy.
(In Scotland, a PTD is the equivalent to an IVA.)