An IVA (Individual
Voluntary Arrangement) is a form of debt management programme set up
by the government of the day to deal with personal debt and deal generally
with the issue of personal insolvency. Our associates are licenced to
give Individual Voluntary Arrangement advice on the understanding that
IVAs were never designed to be one-size-fits-all remedies to any money
problem, because each individual situation is different. An Individual
Voluntary Arrangement application will begin the process.
A normal Individual
Voluntary Arrangement will run for five years (sometimes less) and after
this completes all debts are cleared from a person's record.
An IVA writes off
most of a person's debt at the start of the plan (although beware of
the claims made in some advertising: it is seldom more than 60 or 65%
of total debt which may be cancelled in this way). Any good IVA advice
of this sort will make sure you get the best results with the
lowest monthly repayment options together with the greatest
percentage of debt write-off at the outset.
So begin your Individual
Voluntary Arrangement application by filling in the form below for impartial
and independent advice.
If you have at least
two accounts in debt, and total debts of £2,000 or more, use the
form below to see if you qualify. (If you owe less than this, or are
on state benefits, then use this
link to apply.)
be aware that figures entered need to be accurate by law, and to give
the best service to you. It is extremely important that you budget for
all necessary expenditure including rent or mortgage, council tax and
utility bills, etc., and any other necessary outgoings related to the
upkeep of your household and inrelation to any specific circumstances
that may relate to you. This website only collects data on behalf of
debt management professionals, from which it will receive affiliate
remuneration for data collection only and does not itself engage in
any debt management services. Other debt management options are available
and may be more suitable. People entering into an IVA or debt management
will have this entered on their credit profile and this may affect their
ability to get credit in the short term or even in the long term in
some cases. It is free to apply from this website; you will be given
advice by debt management professionals and a 'cooling off' period,
by law, to decide whether or not the debt management plan is suitable
for you, and you should be aware that a fee will be chargeable upon
a successful arrangement, as with any commercial transaction. Failure
to meet the repayments on an IVA or any debt management programme may
result in serious consequences, including, but not limited to, bankruptcy.
Bankruptcies, CCJs and similar defaults will be entered into a public
register and will remain there for a statutory period of not less than
six (6) years.
Credit Licence number 633327.
Voluntary Arrangement Application
In order to qualify
for an individual voluntary arrangement the applicant has to be able
to show an income in excess of a certain minimum and have debts with
a total value of not less than a certain sum and not greater than a
certain sum, and such figures will alter from one insolvency company
to another. Usually income must be proved to cover the cost of the calculated
repayments after other necessary bills have been discharged such as
mortgage and utility bills. The usual minimum amount of debt is around
£2,000 although this figure can vary. A maximum threshold of £50,000
is given in a few cases, though by using a third party the client may
be shown best service to handle their individual situation.
A number of disciplines
have developed relating to aspects of insolvencies, and these include
the legal sector as well as more recent professions such as consultants.
All these experts have their own strengths. Each will have their own
area of knowledge and specialisation which you should benefit from to
your advantage. Use of an individual voluntary arrangement will make
your recovery from insolvency much easier and quicker.
attempt to do their best to help people who are suffering from insolvency
in a number of ways. There are government programmes like The diverse
voluntary arrangements to assist in the processes of corporate and personal
debt relief and to relieve what is recognised as being a highly difficult
process, and clearly an individual voluntary arrangement application
is an integral part of the solution. The emphasis tends to be towards
protecting resources wherever possible and in protecting the rights
of individuals using legal measures. This embraces both private wealth
and the security of businesses on which individual security depends.
Most kinds of individual
voluntary arrangement will most often be drafted to run over a period
of 5 years, but sometimes this will vary in each case. At the end of
this period the debt is said to have been discharged and the client
Our economy is
an extremely complex entity. Economic experts and scientists of all
descriptions want to figure out how it functions on a daily basis. It
resembles a vast computer. It is a matter of contention whether economics
impinges on political and social needs and these are mainly regulated
by the society that we have. Our culture in turn is underpinned by the
need to succeed so that always means risk. For as long as we have this
risk we also have to live with the ghastly spectre of insolvency, both
personal and corporate. Use of an individual voluntary arrangement application
is designed to eliminate this risk to a large extent.
individual voluntary arrangement application
voluntary arrangement application advice
voluntary arrangement application faqs
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a look at the Insolvency Service's leaflet called 'In Debt', downloadable
website is property of Individual Voluntary Arrangement Application.
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