Debt Consolidation Help

In some circumstances taking out a debt consolidation loan is neither a viable or attractive option. Fortunately current government legislation provides an alternative solution designed to consolidate debts into a single monthly repayment. This legislation is known as an Individual Voluntary Arrangement or IVA.

Individual Voluntary Arrangement (IVA)

For people owing greater than £15,000 in unsecured debts, an IVA is generally the most attractive method for consolidating debt without borrowing more money.

If you have been rejected for a further loan then our Group of companies is specially authorised to help consumers consolidate their debt problems by entering into an IVA. If you want to take advantage of this often called “second chance” government legislation then look at the following benefits:

• One affordable monthly payment reduced by as much as 70%
• Debts consolidated and reduced by as much as 80% with your creditors permission.
• IVA period from one to 60 months maximum giving you the certainty of a debt freedom date.
• All interest and charges automatically stopped.
• No more demanding phone calls, letters or court threats.
• Keep your home and possessions by avoiding bankruptcy

An Individual Voluntary Arrangement ( IVA ) is a new debt consolidation agreement between you and your creditors to make a single affordable monthly payment for a fixed period of time up to a maximum of 60 months.  IVAs are completely private arrangements strictly between you and your creditors. No one else need know about your debt consolidation.

Only a Licensed Insolvency Practitioner such as our Group of companies is authorised to complete these debt consolidation arrangements. We would help you to ensure that you have enough money each month to enjoy a reasonable lifestyle and undertake all the creditor negotiations on your behalf. Once this analysis is complete we will prepare a proposal for your creditors and obtain approval for your IVA.

Once your debt consolidation IVA has been approved you become completely legally protected from your creditors taking further action against you for recovery of the debt. You will be able to finally sit back and relax in the knowledge that you only have to make one affordable payment each month for a maximum period of 60 months. Once you have made you’re final payment, all remaining debt is legally cancelled and you will be completely DEBT FREE.

The most important aspect of applying to consolidate your debt through an IVA is to know exactly what type of company you are dealing with. There are a very limited number of Insolvency Practices in the UK such as our Group of companies, who are authorised to undertake these IVA consolidation agreements. However there are an awful lot of middlemen who normally take an upfront fee from you. Be very careful. Do not sign up with anyone who wants any money from you before your IVA is completed and approved. Do not sign up to Direct Debits or Standing Orders or whatever before your IVA is fully approved.

If you want more information on how an IVA can help you gain complete freedom from debt and consolidate your debt problems then please call us on 0800 043 50 43 or complete our enquiry form and let us advise you properly.