IVA - Alternative To Bankruptcy

If you are a UK resident and want to speak to a trained debt counsellor who can advise you on an IVA and alternatives to bankruptcy, please fill in the form below. This is the first step towards solving your debt problems and will only take a minute or two of your time. Your browser doesn't support IFrames. To view the application form please <a href="http://www.traffic-clearing-house.com/Leadsdb/direct_api/iframes/debt-management-form.php?tchid=aa406e694d355b8e81f96403db01de6d&subtype=Auto"> click here.</a>	What is an IVA? An Individual Voluntary Arrangement or IVA is a formal agreement, between you and the people you owe money, to pay part or all of your debts over an agreed period of time. Due to its formal nature, you will need to employ an Insolvency Practioner to administer your IVA. An IVA can reduce your monthly payments and the total amount you are required to repay. It gives you more control over your assets and how debts are repaid, but the terms must be agreed by your creditors before an IVA is legally binding. An IVA gives you more say in how your assets are dealt with and how payments are made to creditors. You will obviously have to act responsibly and flexibly in order to reach agreement with your creditors, but you will avoid the restrictions which apply to a bankrupt and may be able to persuade your creditors to allow you to retain certain assets (such as your home). Because you will not have to pay some of the fees and expenses which are charged in a bankruptcy, the overall costs are likely to be less too.

If you are a UK resident and want to speak to a trained debt counsellor who can advise you on an IVA and alternatives to bankruptcy, please fill in the form below. This is the first step towards solving your debt problems and will only take a minute or two of your time.

What is an IVA?

An Individual Voluntary Arrangement or IVA is a formal agreement, between you and the people you owe money, to pay part or all of your debts over an agreed period of time.

Due to its formal nature, you will need to employ an Insolvency Practioner to administer your IVA.

An IVA can reduce your monthly payments and the total amount you are required to repay. It gives you more control over your assets and how debts are repaid, but the terms must be agreed by your creditors before an IVA is legally binding.

An IVA gives you more say in how your assets are dealt with and how payments are made to creditors. You will obviously have to act responsibly and flexibly in order to reach agreement with your creditors, but you will avoid the restrictions which apply to a bankrupt and may be able to persuade your creditors to allow you to retain certain assets (such as your home).

Because you will not have to pay some of the fees and expenses which are charged in a bankruptcy, the overall costs are likely to be less too.

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