IVA ‘s Individual Voluntary Agreements

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An Individual Voluntary Agreement (IVA) is an arrangement, approved of by the court between you and the people you owe.

It is a legal agreement, once it’s done interest is frozen and creditors can not contact you.

It can be cancelled by you if circumstances change

An Insolvency Practioner put them in place and you need to show you can’t afford to payback the debt as it stands.

There is a standard sum that you need to owe (£15,000 usually). Debt advisors who have shown they are fair to both parties can work to lower amounts. If you are eligible we can broker an IVA for debts as low as £7000.

You need an insolvency practitioner to do this, you can not do it yourself.

If you think an IVA is a good debt solution to your situation GET IN TOUCH.

IVA 's solution to Credit Card debt

IVA ‘s a possible solution to Credit Card debt.



The interest on the loan is frozen.

The total you owe can be reduced by up to 60%

You get 5 years to pay it off (60 months). You debts are clear after 5 years.

75% of you creditors must agree for the IVA to be set up.

It’s agreed by a court but you do not need to go to the court.

An IVA is a private discrete agreement.



You must pay the monthly payments for the length of the agreement.

The people you owe can vote against it.

Any increase in property equity might have to be put into the agreement.

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