Individual Voluntary Agreement

Individual Voluntary Agreement

Best Debt Consolidation (Without More Debt!)

Apply For The Best IVA For Your Own Circumstances

 

 

An Individual Voluntary Agreement is another term for an Individual Voluntary Arrangement, or IVA.

An Individual Voluntary Agreement is the optimum way to release yourself from debt entirely and for all time. Its purpose was to serve as a far less draconian alternative to bankruptcy, as indeed it carries none of bankruptcy’s stigma.

An Insolvency Practitioner will draft an Individual Voluntary Agreement after having looked into your circumstances, and a list of your income and expenditure will be made, with consideration given to your necessities and your usual household bills and expenses. It is not unusual, at this stage, for between 60 and 70 percent of your entire debt to be written off. Only after that will you start making much reduced monthly repayments into a fund in order to clear the remainder of the debt.

To be eligible for an Individual Voluntary Agreement you usually need to be in employment and your income needs to exceed your expenditure. By how much your income needs to exceed your expenditure depends on the IVA source, which is why our whole-of-market approach is best for everyone: we simply match you up with the best IVA for your own situation.

Your Individual Voluntary Agreement will be a binding legal instrument and your creditors will be bound by it. From the first day it takes effect your creditors (or their agents) will not be allowed to contact you in any way. If they do they will face the punishment of the law. If the account or accounts have been placed with collection agencies, or if the delinquent accounts have been bought by debt purchasing companies, then they will have to stop their nefarious practices and leave you alone for the entire duration of the IVA’s term.

At the end of the agreed term of the IVA you will be discharged and there will be no mark against your credit rating whatsoever.

To apply for an Independent Voluntary Arrangement, without obligation, or to see if you are eligible for one, fill in the quick application form below.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

We are registered and regulated under the Data Protection Act. Reg. No. Z1620707

We are licenced by the Office of Fair Trading. Consumer Credit Licence No. 633327

 

WE FULLY AND WHOLEHEARTEDLY ABIDE BY THE OFFICE OF FAIR TRADING'S BOOKLET DEBT MANAGEMENT GUIDANCE (OFT366). COPIES MAY BE OBTAINED FROM THE OFFICE OF FAIR TRADING.

 

 

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