Debt free in 60 months
Up to 70% of your debt written off.Need help out of serious debt? One such options is an IVA, which is a Government run scheme to help you out of serious debt problems. We can offer advice on how you can be debt free in 60 months with up to 70% of your debts written off by simply paying one affordable monthly payment. Find out more below or Take the Test to see if you qualify for an IVA.
What is an IVA?
An IVA or Individual Voluntary Arrangement is a legal process which enables a debtor to avoid bankruptcy by making an agreement with their creditors to pay off a certain percentage of the debts over a given period.
The amount you have to repay monthly is calculated through an analysis of your income and expenditure. Once agreed, the repayments are legally bound by a contract and if you do not meet your side of the deal, the creditors can still force you into bankruptcy.
If you are a homeowner, normally you will be required to release any equity which you have in your property by taking out a remortgage or a secured loan. This money will then have to be paid to your creditors. Once an IVA has been agreed by your creditors, all interest and charges on your unsecured debt will be frozen.Your financial situation will be reviewed each year by your IVA supervisor and if there is a change in your financial circumstances, for instance a salary increase, then an increase in your contribution towards your IVA may be required.
An IVA is more than likely to affect your credit
rating. If you are struggling with your repayments
then your credit rating is already likely to be
poor. If you are concerned with how an IVA affects
your credit rating then please fill out a quick
enquiry
form
Debts under £15,000?
If your debts are under £15,000 then there is likely to be an alternative solution which can help to reduce your debts. The Informal Payment Plan (IPP) is one such solution; this is an informal process of negotiation with unsecured creditors which can result in obtaining a reduction in the repayment amount or in the interest charges. The negotiation involves providing the creditor with proof that the individual is unable to meet their repayments.
Extreme debt?
If your debts are over excessively large and there is no way out, then we consider this serious debt. We have a great deal of experience with all types of debt and can usually help you find a solution that meets your needs.
If you wish to find out more about our IVA's and other forms of debt help then please enter your details into our enquiry form and one of our advisors shall contact you with some free advice.
Contact us and see if you qualify for an IVA.
Make an enquiry »
