IVA Company
IVA Company
If you are struggling with debt, it could well be worth contacting an IVA company for help. IVAs (individual voluntary arrangements) is a contract between a customer and the companies to whom they owe money. Set up by an insolvency practioner, an IVA is a legally binding declaration and is worked out in relation to the customer's earnings and outgoings.
An IVA company could help you:
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Write off up to 65% of your debt
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Clear debts completely at the end of a fixed period (often five years)
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Budget so that you do not incur any further debt
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Freeze the interest on credit so that you are only paying off capital
Your creditors will have to agree to the arrangement, but an IVA company can obtain a court Interim Order on your behalf. The agreement must be adhered to, or creditors can reintroduce interest and other charges. The repayment terms will be reviewed regularly by the IVA company to ensure that changes to your financial circumstances are reflected in the IVA plan. Get in touch with an IVA specialist by clicking the link below.