What happens during an IVA?

What happens during an IVA?

During an IVA – (Individual Voluntary Arrangement) we will with you to determine how much you can realistically afford to pay into an arrangement. To prepare an IVA, we will need to ask you a number of questions about your financial situation and then agree on the monthly repayment to your creditors.

How do I start an IVA?

You will first need to complete our IVA questionnaire. From this our professional advisors work with you to determine your present financial position. This will form the basis of the proposal which is sent to the creditors.
Preparing an IVA and IVA Advice will not cost you a penny but could save you lots.
Talk to our IVA advice team now!

What Is An Iva?

IVA stands for Individual Voluntary Arrangement. It is a legal process for UK residents with serious debt problems.

If you owe more than £15,000, an IVA allows you to avoid the trauma of bankruptcy. Debt counsellors provide IVA advice and IVA information. As licensed insolvency practitioners we can agree on an IVA for you!

Once in place, an IVA will help clear your debts at an affordable monthly payment over a fixed period, usually 60 months. Any interest that is owing is frozen.

At the end of the fixed period, your IVA is complete, all outstanding balances are permanently written off and you will be completely debt free.

An IVA (Individual Voluntary Arrangement) is a piece of government legislation.

Do I need an IVA?

Do you suffer from any of following: Credit card debt, struggling to repay the mortgage don’t have enough spare cash each month, close to bankruptcy? If your debts are over £15,000 an IVA could be your best option for reducing debt quickly and in a controlled manner.

With an IVA it means people you owe money to will contact you your debts will be cleared in a specific time and period and your monthly payments are reduced.