● £5,000 or more in debt
● Unable to manage the debts
● Struggling to balance debts with life
Write-off up to 85% of the debts with us within 5-6 years at affordable monthly instalments. IVA is an available solution if you're residing in England, Whales or Northern Ireland.
An Individual Voluntary Arrangement can be the right pathway to a debt-free future; allowing you to make affordable debts usually over five or six years. Our IVA Team will assist you to draft the best proposal which is sent to your creditors for consideration. The terms of the IVA are dependent on the consent of both the parties (you and your creditors).
IVA instalments are generally paid on an affordable monthly payment for 5-6 years. Once the payments are made within a predefined duration; the remaining debts are written off by the creditors.
By the end of your IVA plan, all the remaining unsecured debt is written off. With a Lump-Sum IVA; you can also make a one-off payment.
IVA is available for people living in England, Whales and Northern Ireland. For a detailed discussion on whether IVA would be the best option for you, consult our Team.
● Overdrafts
● HMRC Debt
● Unsecured Loans
● Council / Utility Bills
● Credit / Store Cards
● Vehicle and Property Shortfalls
● CSA Arrears
● Unpaid VAT Bills
● Secured Debts & Loans
● Mortgage or Current Property Rent Arrears
● No Upfront Charges for IVA Setting
● On approval of your IVA; the creditors against your proposal or who have not voted at all, are still bound by it.
● Once your IVA is approved; creditors whose lending is unsecured, can't take any action against you.
● Post your IVA approval, your interest and charges are frozen by law, provided you maintain the defined payments.
● There's only a single payment each month that will be administered and distributed by your insolvency practitioner to different creditors.
● In worse circumstances, we can negotiate with your creditors on your behalf to vary the terms of the arrangements.
● Under IVA; you will never be forced to sell your home.
● On successful completion of your IVA duration; the remaining balance that you owe to the creditors included within the IVA is written off.
IVAs need to be carefully considered and one must take quality debt advice. The credit rating will be affected for approximately 6 years once the IVA is approved. Please mark that all IVAs come with a fee and the breakdowns are clearly explained to you before entering into the solution phase. For more details, you can call us at 03333390069 or simply email us at info@resolvingdebts.co.uk