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BANKRUPTCY ADVICE SERVICE
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What is an IVA?

If you have £10,000 or more of unsecured debt an IVA (individual voluntary arrangement) is one solution to get rid of your debt problems. An IVA is a legal agreement which works as an alternative to bankruptcy. You pay an agreed sum each month and can be debt free in five years.

How does an IVA help with my debts?

An IVA is a formal and legally binding agreement between you and your creditors. It provides both parties with certain legal protections whilst you solve your debt problems.

With an IVA, you simply pay the agreed affordable monthly amount, usually over 60 months.

Our team of specialists are here to help answer any of your questions about IVAs. You can call our helpline on 0800 088 2147 or simply the online test to check if you qualify. Find out if you qualify for an IVA

 

Once the agreement is in place your creditors must stop all further interest and charges on your debts. All letters and phone calls from your creditors in relation to your debts should then cease. Once the 60 months have ended, and you have kept to the arrangement any outstanding debt is written off.

How do I start an IVA?

First you need to take the IVA test to find out if you could qualify for an IVA. An adviser will then work with you to determine your present financial situation. They will then draw up the proposal which is forwarded to your creditors, allowing you to get your finances back on track. 

Expert help and advice when you need it most

Our panel of specialists can quickly advise you if you qualify for an IVA,
Debt Management Plan, Trust Deed or bankruptcy. Simply call the team on 0800 088 2147.
Alternatively take the online debt test and find
your best solution.
Find your best solution with the online debt test

Debt Solutions

Become stress free from as little as £100 pcm
With a Debt Management Plan you could simply pay one affordable monthly payment and no longer have to deal with your creditors..
See if you qualify  DMP eligibilty test
 
Write off up to 70% of your debt
If you qualify for an IVA you could:
Write off up to 70% of your debt
Freeze all interest & charges
Keep your house

See if you qualify  IVA eligibility test
 
Scottish Resident?- be debt free in 36 months
Be DEBT FREE in 36 months using Scotland's answer to the IVA.
See if you qualify  Trust Deed eligibility test
 
© 2014 DebtAdvice-Online.co.uk. 210-222, Hagley Road West, Quinton, Birmingham, West Midlands, B68 0NP
    
 
 


DebtAdvice-Online.co.uk does not charge you any fees for our service, however the partners we work with help fund the DebtAdvice-Online.co.uk service. Our partners charge fees and those vary depending on the partner and the debt solution. Customers should refer to our partners' websites for more information regarding their services.

We will pass your details on to one of our debt partners who will contact you and explain all the options available to you. They will then be able to help you set up a debt solution which is right for you.

Debt solutions should not be entered into lightly - they affect your credit rating. Failure to keep up with repayments can result in bankruptcy or legal action. Different debt solutions have different risks attached to them.

The lender is not obliged to accept less in settlement of the debt than they are entitled to; nor to freeze interest or charges. It could result in the total amount payable increasing, or the period over which it is to be repaid increasing. Debt solutions affect credit ratings.

The debt products and solutions offered by our partners depend on your criteria and circumstances, including how much you owe and how many creditors you owe money to. You need to speak to a debt advisor to obtain a full assessment.

 
 
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