Firstly we need to make sure you financial circumstances are right for an IVA (your financial situation may also be referred to as Statement of means or Financial Profile). We will assess your options and give you a no-cost, unbiased best solution to your debt problem.

If an IVA is your best solution we will refer you to one of our IVA consultant, they will start the IVA process. As an IVA is a legal process it involves a large amount of preparation, we aim to keep your involvement to a minimum by completing as much of the paper work as possible.

1. Financial Profile Preparation – One of our IVA Consultants will create a profile of your current financial state to create your IVA proposal, this is normally done by phone taking no more than 30 mins.

2. Interim Order – An interim order prevents further action from creditors while you IVA is prepared. We will apply to the local court if needed; this order remains in effect until your IVA is presented to your creditors.

3. Meeting of Creditors – The proposed IVA and Statement of Affairs is presented to your creditors for consideration. Once approved, the IVA will begin and both you and your creditors must comply with the terms of the IVA

A licensed Insolvency Practitioner will act as your IVA Supervisor and deal with any problems that may arise during the IVA, they will be the only person that can contact you during this period – you will not be contacted by creditors.

Payments - From here forward as long as you comply with the agreed IVA you generally will only need to make a single, affordable payment each month, which will be divided amongst your creditors. No further interest will be incurred and at the end of the IVA a portion of the debt will be written off and you will be clear of debt. This process is generally 60 months/5 years.

If you have over £15,000 worth of debt and are having problems keeping up the payments an IVA could be one solution that can help you, contact us today and we will give you free best debt advice on how to get yourself debt free. Get a call back today