The
IVA (Individual Voluntary Arrangement) was introduced by the
government in 1986 as a less restrictive alternative to
bankruptcy for people who are struggling with serious debts.
It is a legally binding contract between an individual and its
creditors with creditors agreeing to wipe out a proportion of the
debt, in return for the individual making a regular monthly
repayment for a period of 5 years.
- Are
you struggling to pay credit or store cards, overdrafts or
personal loans?
- Do you have debts over
£15,000?
- Under pressure from creditors or debt collectors?
- Is the stress and worry from being in debt ruining your life?
If this sounds familiar, an IVA might be suitable for you. It's
essential that you don't ignore your debt problem and seek the
best advice possible from a Licensed Insolvency Practitioner
(IP).
Simply complete our no obligation enquiry
form to get FREE professional and impartial IVA advice so
you can be sure that you have all the facts and are choosing
the best debt management solution.
Good IVA advice is imperative because signing
up to an IVA can involve a commitment of up to five years, so
it's important that you understand fully what you're getting
into before you start and that you are aware of all the
options.
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Freeze interest charges |
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Reduce the amount of debt owed by as much
as 70% |
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Get protection from legal action |
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Stop creditors from harrassing you |
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Pay back what you can afford |
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Avoid losing your home |
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Stop court or bailiff action |
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Reduce your repayment period |
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Debts cleared in 5 years |
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Latest
Facts & Figures
An IVA which is sometimes termed “bankruptcy lite”,
are rocketing in popularity as overindebted people seek to
escape unmanageable liabilities. Accountancy
firm KPMG predicts more than 130,000 people will be declared
bankrupt or enter into an individual voluntary arrangement (IVA)
with their creditors in 2008. There is expected to be a sharp rise in the take up of Individual Voluntary Arrangements in the first 3 months of
2008, fuelled by excessive spending over Christmas, pressures of
the credit crunch and rising energy bills.
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