The IVA

The Iva was introduced by the Government around the late eigties. Up to now  the IVA was a little known  peice of legislation. It is powerfull debt solution which a sole purpose of avoiding bankruptcy or harsh consequnces. It only applies to unsecured debts, such as

Unsecured loans, credit cards, unwanted car hp, Overdrafts, bank accounts, Hire purchase, services contracts (mobile’s sky, broadband etc;), Finance companies, Solicitors fees’, Store cards, HM Revenue and Customs VAT, HM Revenue and Customs PAYE, Self Assessment Tax, National Insurance NI

Take full responsibility of your personal debts with an IVA. Providing you qualify you could get up to 85% of your debt wiped off.

An IVA is a straightforward, flexible and an effective debt solution for getting rid of all your credit card debts and unsecured loans. The amount of debt which you can get wiped off depends on your monthly payments and your monthly payments are based on your affordability level.

As soon as an IVA has been arranged with your lenders, a single monthly payment will be made by you usually for a duration of five years (60 months), after the five year period your creditors will write off the remaining balance and you’ll receive a notice of satisfaction which shows each debt is settled.

Your lenders cannot demand any additional payments from you except if your financial condition recovers at some point in the life of the IVA.