IVA | Individual Voluntary Arrangement

IVA

Thinking about bankruptcy? Stop! You might qualify for an IVA.

An IVA or Individual Voluntary Arrangement is a legal contract between a debtor and his or her creditors. It is instituted when a debtor does not have the financial means of repaying his or her debts. Instead of filing for bankruptcy, the IVA would allow the debtor to pay a percentage of their debt in an easy to manage monthly payment. Most Individual Voluntary Agreements last a minimum of five years and provide the debtor many benefits.

Submitting Details...

Step 1 of 3

About your loan

How much would you like to borrow?	Over how many years?

Purpose of loan?	Current residential status?

What is your monthly income? (including any benefits)	Your employment status?

Proceed to step 2.

Step 2 of 3

About your loan

You qualify for two types of loan. Select either:

	Homeowner Loan Is secured on your home. Rates depend on your circumstances; usually lower than an unsecured loan and often more flexible.
	Unsecured Loan Not secured on your home. May not qualify you for the best rates. Applying to a number of lenders may affect your credit score.

Estimated value of your property?

Your current mortgage balance?

Where will you buy your car?

What is the total value of money you owe to companies?

Do you owe money to 3 or more companies?

YesNo

What is your monthly rent/mortgage payment?

Your living arrangements?

Your date of birth?

Do you have adverse credit?
(if yes, we can still help)

YesNo

Proceed to step 3.

Step 2 of 3

About your loan

Based on your information we recommend you speak to a personal debt adviser.

They will offer you advice on:

Whether a loan is your best option
Consolidating your debts
Reducing the amount you owe
How to freeze your interest payments
Protecting you from creditors

Proceed to step 3.

Step 3 of 3

Your details

First name:	Last name:

Phone number:	Alternate phone number:

E-mail address:


First line of current address:	Current postcode:

Based on your requirements we have selected the FSA regulated broker Broker Name to help you with your enquiry. Please click SUBMIT to confirm that you are happy for them to contact you by telephone/e-mail.

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Thank you for your enquiry.

Your adviser will be in touch with you shortly.

First, when you enter into an IVA, the creditors are legally bound to respect the terms of the agreement. This includes putting a freeze on any interest payments that you might owe, as well as any late payments that you would otherwise have been required to pay. Another great advantage to an IVA is the fact that creditors will no longer contact you. That means no more harassing phone calls, emails, or letters in the mail. And best of all, once you complete your IVA you will have repaid all of your debts, leaving your credit in great shape as opposed to the damage your credit will suffer when filing bankruptcy.

Individual Voluntary Agreements are for those residing in England and Wales. However, you must owe at least two creditors and have debt totaling a minimum of £15,000. Those who’ve been approved for an IVA can reduce their debts by up to 85% and will find that a large portion of their current debts may be written off. An IVA is an excellent alternative to filing bankruptcy and has helped many people regain control over their financial situations. If you believe that an IVA is right for you, then contact us today. We’re here to help you.