What is an Individual Voluntary Arrangement (IVA)?
An Individual Voluntary Arrangement (IVA) is a contractual agreement between you and your creditors regarding new payment terms for outstanding debts. It will allow you to avoid bankruptcy and maintain control of any assets you have.
We’ll go through your finances with you, to work out what can be offered to creditors to make an IVA worthwhile for them. The next step is for us to put together a proposal to creditors stating the ‘pence in the £’ offer and highlight why an Individual Voluntary Arrangement (IVA) has been chosen over bankruptcy.
To take the pressure off you, we’ll organise the necessary meetings and paperwork on your behalf. If the proposal is accepted, then our role turns into a supervisory one. We perform regular reviews throughout the year and produce an annual report where the distributions will be made to creditors.
We provide free Individual Voluntary Arrangement (IVA) advice and no obligation consultations.