IVA

What is an IVA (Individual Voluntary Arrangement)?

• Customer must be in financial difficulty.
• Customer must have a debt size of £15,000 or more.
• Customer must have 3 or more different creditors.
• A formal arrangement through the County Court to pay an agreed amount of your debts over a fixed period.
• Customer will pay one affordable monthly payment for 5 years.
• After 5 years any debt remaining is written off Customers can avoid bankruptcy and safeguard their property.
• All correspondence, telephone calls will stop once the IVA has been approved.
• Customers may be asked to re-mortgage their property in the fourth year to release equity / cash injection into the IVA.
• May write off a percentage of the debt.
• Credit file maybe affected, however after the 6th year credit file will seem clear.

If you feel that this could help you or you just want some advise just give us a ring on 01273 857 024 or fill in the form below without any obligation.