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Individual Voluntary Arrangements (IVA's) |
Write off up to 75% of your debt with an Individual Voluntary Arrangement.
"You can be debt free in 60 months with up to 75% of your debt legally written off."
What does an IVA do?
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Reduces debt by up to 75%
You only repay what is affordable after taking into account your personal circumstances.
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Reduces repayment period.
In 60 months you will be debt free, the rest is written off.
This is dependant on approval of 75% (by value of the debt) of your creditors, and provided you maintain the payment schedule.
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Stops interest and charges.
Your debts will not increase and interest will be frozen.
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Stops harassment.
Stops creditors and debt collectors from chasing you.
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Stops court action.
Can stop bankruptcy proceedings and bailiffs.
If you're outgoings are more then you earn, or you're being threatened with legal action, rest assured you're not alone. Debt is fact of life for many people and interest charges can mount up fast. The sooner you take action, the faster you can get on with your life.
Can you answer yes to all of the following questions?
If the above applies to you, then you may qualify for an IVA (Individual Voluntary Arrangement).
An IVA would allow you to make a single monthly payment that you can reasonably afford, for a set period (60 Months) - after which the remaining debt is legally written off.
Fill in the form below to recieve a free call-back from an advisor.
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How could a Debt Management Plan help?
A Debt Management Plan will allow you to have just one affordable payment each month to meet all your unsecured credit agreements. Negotiation with all your existing creditors is made to reduce or even freeze interest and charges on your accounts. This will help you to be Debt Free as quickly and affordably as possible.
A debt management plan is tailor made for you with your new, single, consolidated payment being based on the amount you can afford each month and not what you owe.
How does a Debt Management Plan work?
- An assessment of your financial situation is carried out. This involves you providing information such as your regular income and expenditure, who you owe money to (your creditors) and any other relevant information about your personal circumstances.
- By collating this information into a Financial Statement, how much you can realistically afford to offer each of your creditors can be determined.
- Your creditors will then be approached and asked to accept the reduced payments. In most cases creditors are happy to agree the plans we initiate because they know, from experience, that such plans are realistic and sustainable.
- You then make a single monthly payment, which is distributed pro rata to your creditors.
- Throughout the duration of your plan, you will have an assigned case officer whom you can contact should you experience any difficulties whilst the arrangement is in place.
- Your plan will be reviewed at regular intervals to ensure that it still meets your circumstances.
- The plan will continue until your debts are cleared or until you wish to voluntarily end the arrangement.
Fill in the form below to recieve a free call-back from an advisor.
Conditions apply. Repaying debt over a longer period may increase the total amount to be repaid.
Your ability to obtain credit will be affected in the short term and might be affected in the medium to long term.
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