Independent Advice
No Bankruptcy. No loss of Dignity
Debt IVA
Debt IVA: The Best Way Out of your Debt (Without More Debt!)
Apply For The Best IVA or Debt Relief Plan For Your Own Circumstances
Independent Advice. No Bankruptcy. No loss of Dignity.
A debt IVA (Individual Voluntary Arrangement) is a debt management plan set up by government to try to eliminate personal debt and deal generally with the issue of personal insolvency. Our clients are licenced to give advice on the understanding that Individual voluntary arrangements are never designed to be one-size-fits-all cures to any debt problem, as each person's situation is different.
The needs of one person can be vastly different from the needs of another person or household. Any debt IVA advice given must thus reflect the diversity of the situation in which people live.
A normal Individual Voluntary Arrangement will be set to run for five years (sometimes less) and when this is complete all debts are discharged from a person's record. During the time of the IVA no banks or debt collectors are permitted to harass the debtor in any way. The IVA has the benefits of sequestration while having none of the drawbacks.
An instrument such as a debt IVA will write off the larger part of a person's debt at the start of the programme (although beware of the claims made in some circles: it is seldom more than 60 or 65 per cent of unsecured debt which can be cancelled). All good IVA advice of this nature will ensure that you get optimum results with the lowest monthly repayment options together with the greatest percentage of debt written off.
So complete the application form below for independent and impartial debt IVA advice which is right for your own personal circumstances.
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Debt IVA
Most types of debt IVA will usually be drafted to last for sixty months, although often this will vary from case to case. At the end of this period the debt is said to be paid off in full and the client exonerated. All records of the various debts which have hitherto been registered against the client's name and address must be deleted from the credit records as a result.
The creditors are not allowed to contact the applicant when the debt IVA is enacted. The creditors are barred from chasing the debt in any way, and if they do so they will be committing an offence and will be subject to penalties, which may mean a fine or even loss of their licence to trade if they are a debt purchasing firm. The applicant has this assurance in law to prevent the tedious telephone calls and non-stop letters that these companies use in order to intimidate their victims.
Governments generally try to do their best to give some help to people who are suffering from debt in one way or another. There are government schemes like The various corporate and individual voluntary arrangements to expedite the conduct of both personal and corporate debt relief and to try and palliate what is, after all, a difficult time, and certainly a debt IVA is an integral part of the solution. The emphasis tends to be toward safeguarding personal possessions if at all possible and in safeguarding the property of petitioners by legal means. This an arrangement applies to both private wealth as much as the assets of businesses on which individual wealth depends.
A debt IVA will be typically drafted by a specialist and qualified insolvency practitioner and shall be made especially to match the specific requirements of the client. There is no such thing as a one-size-fits-all approach to such a process as each situation is different, while some circumstances are exceptionally different. The selected insolvency practitioner will then prepare the optimum proposal for the applicant's own individual situation and then set up a plan of repayments usually for 60 months, though in some circumstances this may be made to differ.
A number of disciplines have evolved surrounding various aspects of insolvencies, and these include the legal sector and more recent professions such as consultants. Such experts have their part to play. Each one will have a different area of knowledge and specialisation which you should make use of to your advantage. Making use of a debt IVA will make recovery from insolvency quicker and easier to bear.
Our economy is an extremely complicated thing. Economists and specialists of all descriptions try to comprehend how the whole thing works on an ongoing basis. It is like a huge machine. Arguably economics impinges upon political needs and these are generally regulated by the society that we have. Our culture is aligned towards success so generally means risk. As long as we live with this insidious aspect of risk we have also the ghastly spectre of insolvency, both personal and corporate. Using a debt IVA is designed to offset this risk to a large extent.
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