IVA Help, IVA Advice – Individual Voluntary Arrangement to Avoid Bankruptcy

IVAs (Individual Voluntary Arrangements) are one of a number of debt management solutions offered by The Debt People. An IVA is a government regulated programme designed to help people who are struggling with serious debts to avoid bankruptcy. The majority of people who contact us and go on to an IVA, have over £15,000 of debt from three or more creditors. For those who do not qualify, a debt management plan, or other debt solution, may be deemed more appropriate.

Recent years have been tough financially for many people throughout the country. Personal debt is at record levels and the reality is that solutions like IVA’s and Debt Management Plans are becoming a much more popular way to get out of debt. An IVA can in certain circumstances write off some of your debt, meaning you pay back what you can afford. It should be noted that an IVA will affect your credit rating, however, as an alternative to bankruptcy, an IVA is a much better solution for you and your family.

The Debt People have been providing IVA advice and debt management help to people like you for 12 years and we have a wealth of experience in helping people to get out of debt. It doesn’t matter what level of debt you have, chances are if you are reading this, we can help. Complete the form on the right of this page and an experienced Individual Voluntary Arrangement (IVA) and debt management specialist will call you to give debt advice, or IVA help, that’s relevant to your needs. Our in-house insolvency practitioners and debt experts will be able to work out the best way for you to get out of debt. If an IVA or debt management plan is not right for you, we can offer other forms of debt help or refer you to one of our sister companies.

Don’t suffer in silence…get IVA help today so you can start enjoying tomorrow.

IVA Information

Many people are turning to debt solutions such as debt management plans (DMPs) and Individual Voluntary Arrangements (IVAs) as an alternative to bankruptcy. If creditors accept these debt solutions, they can enable you to lower your monthly payments to a level you can afford. To see how your situation can be improved with our debt and IVA advice please complete the form on the right-hand side, or call the number above, and one of our advisers will contact you shortly.

Through no fault your own, life can often become more difficult and much more stressful – especially in the current climate with higher unemployment and the global recession. If you are considering bankruptcy and need to make repaying debts less complicated, the most common ways to do this are through an IVA or debt management plan. IVAs and debt management plans are forms of debt help available to you as a way of avoiding bankruptcy. The advantages of these debt solutions though is that they take away the social stigma of going bankrupt and protect you from losing your home (providing you maintain your mortgage and IVA payments in full). So if your debts are getting too tough to deal with, we can offer helpful IVA advice and potentially reduce what you have to pay back – spreading the payments over a manageable term.

Can an IVA reduce my debt?

Our IVA experts can negotiate with your creditors to try to reduce the amount you pay back, stop interest and late payment charges. This is then paid back through a single monthly payment to your IVA, helping you to manage each month whilst clearing the debt, so you can concentrate on living your life. Unlike many smaller or less reputable debt management companies, we will not claim that we can write 0ff 90% of your debt, as this is not the case with either an IVA or a debt management plan. Each case must be individually assessed and in the case of an IVA, the outcome must be beneficial to your creditors too. What an IVA can definitely do is give you piece of mind, knowing that your debt will be clear in a fixed term, usually 60 months. It is normal that after this period, any remaining unsecured debt will be written off.

Is IVA advice necessary?

As with any financial plan, you should have a thorough understanding of how an IVA works before committing to it. To help you with this, we provide jargon-free, clear IVA advice. Our advice is always offered putting your interests first, we are here to help you clear you debts. In the case of an IVA, only a qualified insolvency practitioner is legally allowed to propose the arrangement. We can provide this professional IVA advice to you immediately, as we have qualified Insolvency Practitioners in-house. An IVA is a legally binding contract, which means that you will be protected from creditors taking further legal action. What’s more, our IVA team has one of the shortest assessment times in the industry and will make it their absolute priority to get your case agreed.

Do I need IVA help?

For straightforward IVA help, talk to us. IVA’s are regularly promoted inaccurately with statements claiming that everyone is entitled to write-off 90% of debt. This is not a true representation of an IVA. IVA’s can write-off a large proportion of debt under certain circumstances, but this depends on each individual case. Realistic IVA help is what we’re here for, so if you want to know the real facts regarding IVA’s please contact us.

How is debt management different to an IVA?

Under the right circumstances, you may be eligible for a debt management plan, which is a much less formal agreement to repay your creditors. Like an IVA, you will pay a single affordable repayment which is repaid to your creditors in proportion to the amount that you owe them, if your creditors accept the plan.

Unlike an IVA, it is not a formal contract, so you have complete flexibility as you are not tied-in if your circumstances change. Many creditors may agree to freeze interest and charges on a debt management plan, provided that they are satisfied that the repayment offered is realistic and that you are seen to make regular payments, but this is not guaranteed.

The Right Choice for an IVA or debt management plan

For some people’s debt problems, we may need to simply advise with regards to budgeting more effectively, or prioritising debts in a more efficient way. Sometimes we may need to suggest an informal way of repaying debts – like a debt consolidation loan or a debt management plan, whilst in other cases a more formal debt solution may be required – such as an Individual Voluntary Arrangement (IVA), Debt Relief Order (DRO) or even bankruptcy. If you live north of the border you will not qualify for an IVA, however you may be eligible for a Trust Deed – call us for more details.

Whatever your level of debt, whatever your circumstances, call us for IVA advice, or debt management help, on 0800 037 0053.

Expert debt advice from an established company

More and more people are struggling with debt problems in the current economic climate and are looking for expert help. If you are one of them, and you feel that your debts are causing you to worry every time someone knocks at your door or the phone rings, then The Debt People could help. We have been providing assistance to those in financial need for over 10 years and we offer a number of ways to help you get out of debt. Our advisers are trained experts and it is their job to help you find the right solution that best suits your individual needs. So if you would like some help, call The Debt People for FREE on 0800 037 0053 or ask for a FREE call back by filling in your information on the form on this page. We can help you by:

1. Negotiating for a reduction (or possibly the freezing) of interest and charges you may be paying now
2. Putting you back in control of your money
3. Dealing with demands from your creditors on your behalf
4. Combining all of your unsecured debts into a single monthly payment
5. Giving you confidential help & debt advice

We have been helping people for a long time, so we understand the difficulties you face when trying to manage your debts by yourself. Our team of experts can act on your behalf and liaise with your creditors for you. What’s more, all of our staff follow the Debt Managers Standards Association (DEMSA) code of conduct, which has been approved by the Office of Fair Trading (OFT). This means that we offer the highest standards of service in the debt management industry and we will ensure that you are completely satisfied.

After speaking to us, you should have a clearer idea of where your debt problems have originated from and how best to deal with them. This means you should come away with a much better understanding of what your next steps could be and hopefully a more positive outlook for the future.