Free Yourself From The Pressures Of Debt With An IVA (Individual Voluntary Arrangement).
What Is An IVA?
An IVA is a formal agreement between your creditors and you to repay an amount you can afford to pay off your debts. These agreements are legal and a very powerful tool to help get you back to financial stability. For those who have taken on more debt than they can repay and are struggling with even their minimum monthly payments, an IVA was designed just for their situations. Usually, the repayment period for an IVA is five years (60 months). For this entire period, you will have to pay certain amount per month, and when the 60 months are over, your creditors are obliged by law to cancel any of your remaining debts.
How Long Will The Setup Take?
Usually within two to four weeks most IVAs can be drafted. They are then sent to all your creditors, which can take another two weeks for their approval. By law, your creditors are not allowed to make any contact with you after an IVA is setup. This will give you peace of mind, knowing you do not have to deal with creditors anymore. All you do is make the payment you agreed to for 60 months - the usual period. When this period expires, any debts that remain are forgiven and you are free from the rpessure of debt.
How Can I Apply?
You may complete the form right here or call us at 0800 043 2027. Our experienced advisors stand ready to help you with a "no obligation" quote. They will help you to determine a monthly payment that you can comfortably afford, and explain the entire process. We will then send all documents to you for your review. We can begin to process your agreement as soon as we receive your paperwork that you have returned.
*The typical period for an IVA is 60months, although depending on affordability could be taken over a longer period.
To find out more about managing your money and getting free advice, visit
Money Advice Service
, an independent service set up to help people manage their money.