Struggling Under Debts Over £12,000? Looking For An Option To Relieve Debt?
An IVA (Individual Voluntary Arrangement) Could Help.
What Is An Individual Voluntary Arrangement (IVA)?
An IVA is a legally binding and formal arrangement between someone who is struggling under debt, and their creditors (the people they owe money to) in order to pay off a fixed amount, usually over a period of 5 years, that is intended to pay off as much of the debt as is manageable, and usually after the five year term the debt is considered settled and the remaining balance written off the debt.
In what way is an IVA useful to someone struggling under debt?
An IVA is perfect for people who have debts over £12,000 who are struggling to pay them back and need to get relief from creditor hassles and to realise more disposable income from their monthly earnings whilst paying off their debt at a more manageable rate, this is not the only benefit, because in many cases (depending on the size and scale of the debt in question) after the five year period the debt is classed as settled regardless of the remaining balance, so if an individual is liable for a large sum of money, an individual voluntary arrangement could be of huge benefit to them.
How Do I Know If I Qualify For An IVA?
To qualify for an iva, there are 3 main pre-requisite criteria.
1/ You must be have a regular monthly income, this is because there will still be repayments that are due each month (if you do not have a monthly income you should look into a bankruptcy arrangement).
2/ Your debts must be larger than the amount of £12,000 in order for this to be viable.
3/ You must have 2 or more creditors (people you owe money to) in order to warrant this kind of financial arrangement.
If you meet the above criteria, we want to speak with you to see if there is a way we can help you to become debt free in five years.
How is this scheme made possible?
It is made possible due to the fact that it is government backed legislation.
It is necessary for all people that are in debt to be treated in a reasonable and humane way in order to help them get back on track, it is a statistical fact that people being hounded over debts that they owe can be a psychologically traumatic experience for them, so if this is you, and you are worried about debts, we at IVAHelpService.co.uk would like to take this opportunity to reach out to you and let you know that there is help available for you – and it is right here.