The Individual Voluntary Arrangement or IVA
allows someone who is in financial difficulty to make an offer to settle his/her debts within a reasonable and fixed period of time (usually no longer than 5 years)The repayment offer will be based on what you can afford to pay rather than what you owe and after you have paid for the time period agreed, your debt will be considered as settled in full.
IVA's also prevent the people you owe money to from adding any further interest to the money you owe or taking any further action against you such as County Court Judgements.
Is an IVA suitable for me ?
this depend on your personal circumstances. Normally your personal debts must be above £15,000 with a number of different creditors. You must also be able to offer a reasonable monthly payment to your creditors. This will vary depending on the debt. However, as a minimum you will need to be able to afford at least £200/mth.
If you want further information on this option then please call us on Tel 08000 850758 We can help you get out of your money problems and credit card debt. We are experts in debt management, credit card debt and money problems in the uk and we operate nationwide.
Applying is easy and confidential...
Making an application is easy and is the first step to get- ting your finances under control. The information we need is basic financial information about what you owe and your income. Using this information we work out the best way to help you.
All we ask is you be honest about you situation and we will be able to offer the best advice to help you get back in control.
