IVAs - Individual Voluntary Arrangements

An IVA is suitable for those with serious debt problems. If you find that you have debts of more than £15,000, you are unable to afford minimum payments to your creditors and are confused about where to turn next, then an IVA could be your route to avoiding bankruptcy.

Benefits of IVAs

An IVA is a legally binding agreement and it is a very serious financial decision to take. If you qualify for an IVA then it can offer you many benefits including:

• Write off any unaffordable debt.
• Only one affordable monthly payment, as all your unsecured debt in consolidated into your IVA.
• Interest and charges frozen.
• Only 60 months until you are debt free.
• No need to worry about calls or letters from creditors.
• Avoid bankruptcy and stop court action against you.

IVAs are the only debt solution which can write off any part of your debt, apart from bankruptcy. If you think you would qualify and want to know more about how to arrange an IVA then you need to get in touch with IVAs.co.uk.

Call free today on 0800 048 1768

IVA - Government Introduced Insolvency Act

IVA legislation was introduced as part of The Insolvency Act of 1986, and covers England, Wales and Northern Ireland. The Scottish IVA equivalent is known as a Trust Deed.

This IVA government legislation was introduced to help those with high levels of debt who cannot afford to make repayments. Before the Insolvency Act was introduced, the only other option was bankruptcy. But an IVA is a practical Bankruptcy alternative, and it is a more private process and protects your assets.

Apply for an IVA

Although IVAs might sound too good to be true, you have the legal right to propose an IVA to your creditors, but an I.P (Insolvency Practitioner) is the only one who can put forward your proposal on your behalf.

If you want to know more about if you qualify for an IVA and whether they would be a suitable debt solution for you, call our IVA Specialists on 0800 048 1768 or take our debt test to see if you qualify.