An IVA (Individual
Voluntary Arrangement) is a form of debt consolidation help plan set
up by the government to try to eliminate personal debt and to deal with
the issue of personal insolvency.
The needs of one
person may vary greatly from the needs of another person. Any debt consolidation
help and advice given must thus reflect the unique nature of the situation
in which people find themselves.
An IVA will write
off the bulk of your debt at the beginning of the programme (although
be wary of the exaggerated claims made in some advertising: it is seldom
much more than 60 or 65 per cent of total unsecured debt which can be
cancelled). All good debt consolidation help will ensure that you get
the optimum results with the lowest repayments together with the highest
proportion of debt write-off.
So complete the
online form below for impartial and independent debt consolidation
help for your own personal situation.
If you have at least
two accounts in debt, and total debts of £2,000 or more, use the
form below to see if you qualify. (If you owe less than this, or are
on state benefits, then use this
link to apply.)
be aware that figures entered need to be accurate by law, and to give
the best service to you. It is extremely important that you budget for
all necessary expenditure including rent or mortgage, council tax and
utility bills, etc., and any other necessary outgoings related to the
upkeep of your household and inrelation to any specific circumstances
that may relate to you. This website only collects data on behalf of
debt management professionals, from which it will receive affiliate
remuneration for data collection only and does not itself engage in
any debt management services. Other debt management options are available
and may be more suitable. People entering into an IVA or debt management
will have this entered on their credit profile and this may affect their
ability to get credit in the short term or even in the long term in
some cases. It is free to apply from this website; you will be given
advice by debt management professionals and a 'cooling off' period,
by law, to decide whether or not the debt management plan is suitable
for you, and you should be aware that a fee will be chargeable upon
a successful arrangement, as with any commercial transaction. Failure
to meet the repayments on an IVA or any debt management programme may
result in serious consequences, including, but not limited to, bankruptcy.
Bankruptcies, CCJs and similar defaults will be entered into a public
register and will remain there for a statutory period of not less than
six (6) years.
Credit Licence number 633327.
of debt consolidation help, such as an IVA, will be typically framed
by a qualified specialist insolvency practitioner and will be made specifically
to cover the specific requirements of the client. There is no one-size-fits-all
approach to such matters as each situation is different, and some differ
considerably. The insolvency practitioner will now prepare the optimum
blueprint according to the client's own situation and draw up a schedule
of payments to a central fund which is typically sixty months, though
in some circumstances this may be made to differ.
Our economy is
a highly complicated thing. Economists and specialists of all types
try to comprehend how it functions on a daily basis. It has been compared
to a vast machine. In the final analysis day to day economics influences
political and social decisions and these things are largely regulated
by the kind of society that we live in. This culture at the moment is
aligned towards success and that often means exposure to risk. As long
as we live with this peril we have also to live with the terrible prospect
of debt, both corporate and personal. The use of debt consolidation
help is designed to alleviate this risk to a greater degree.
In order to be suitable
for debt consolidation help the applicant must have a salary or earnings
which is in excess of a certain minimum amount and have arrears of more
than a specified sum and no greater than a certain sum, and such values
may alter from one insolvency practitioner to the next. Normally the
income must exceed these repayments after other necessary outgoings
have been paid such as mortgage payments and council tax and utility
bills. The usual minimal amount of personal debt is around £2,000 though
this may vary. A top value of £50,000 is sometimes stated, though by
making use of a third party the client will be steered to best source
of help to handle their own particular situation.
a look at the Insolvency Service's leaflet called 'In Debt', downloadable
website is property of Best Debt Consolidation Help. Copyright 2002
-Thereafter. All rights reserved.