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IVA from effective debt solutions

IVA

An IVA (Individual Voluntary Arrangement) is a Government debt solution that allows you to have a good proportion of your debt written off, sometimes as much as 75%.  When you enter into an IVA, the interest on your debts will be frozen and creditors will be legally prevented from taking action against you.  An IVA will stop all threatening letters and phone calls, and your debts will be reduced into one affordable monthly repayment.  Unlike bankruptcy, if you enter into an IVA you will be able to retain any assets that you own (like your house), and you will legally become debt free in between 36 to 60 months.  To find out if an IVA is the right effective debt solution for you and to apply for an IVA on line, just fill out the form to the right - it's free and there's no obligation.

Is an IVA right for me?

Remember that an Individual Voluntary Arrangement is not another loan, but for many people it is the most effective way to get out of debt.  If you owe more than £5,000 in unsecured debts (loans and credit cards, etc not mortgages), and have at least 2 creditors (companies that you owe money to), Then an IVA may be the answer.  If an IVA is not the best debt solution for your circumstances, you should still fill out the form and we will contact you with the right effective debt solution for you.


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IVA (Individual Voluntary Arrangement) explained

An IVA can be arranged when you have no real prospect of paying off your debts.  It is an arrangement between you and your creditors (companies and people that you owe money to) that is legally binding. In order to enter into an IVA  you must  have at least £5,000 of unsecured debts, and at least 2 creditors.  Debts that can be included in an IVA  are personal loans, credit card debts, store card debts, catalogues, overdrafts and income tax bills etc.  Debts that cannot be included in an IVA are secured loans (mortgages and other loans secured on your property), rent, council tax arrears, and fines. Setting up an IVA typically takes between 6 and 8 weeks, and once your IVA has been approved you will have one, affordable repayment each month, and your creditors are legally no longer able to harass you.  If an Individual Voluntary Arrangement is not the right debt solution for you, effective debt solutions offer other debt help such as debt management, and consolidation loans.  Whatever your circumstances, fill in our simple form and we will find the right effective debt solution for you.

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