If you are looking
for a debt consolidation company we can put your details before our
panel of debt consolidation companies with just one application. Having
them compete for your business will then assure you of the quote for
your own circumstances.
An IVA is a debt
relief plan set up by government to provide a solution to personal debt
and deal generally with the issue of personal insolvency. Our client
is a debt consolidation company and is licenced to give advice and do
so on the understanding of the fact that Individual voluntary arrangements
can never be one-size-fits-all quick fixes to any financial problem,
as individual circumstances are so different.
The needs of one
household may be vastly different from the needs of another person and
any good debt consolidation company should be aware of this. Any IVA
advice given must take into account the unique nature of the situation
in which people find themselves.
In general an Individual
Voluntary Arrangement will be set to run by the debt consolidation company
for five years and when the term is complete all the debts are discharged
from a person's credit history.
An IVA writes off
the bulk of a person's debt at the start of the programme (although
be wary of the claims in some advertising: it is seldom more than 60
or 65 percent of unsecured debt which can be 'written off' by this means).
Any good debt consolidation company will ensure that you get the optimum
results with the lowest monthly repayment options together
with the highest proportion of debt write-off at the
So fill in the form
for impartial and independent IVA advice which is right for your own
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.
to help folk who are suffering from insolvency in a number of ways.
There are programmes like CVAs and IVAs to assist the conduct of both
personal and corporate debt recovery and to try and palliate what is
a difficult procedure, and a debt consolidation company is an integral
part of the solution. The object is meant to be toward safeguarding
possessions wherever possible and also in safeguarding the wealth of
individuals by using legal measures. This applies to both private property
and the wealth of businesses on which individual wealth depends.
An IVA (or similar
instrument) recommended through a debt consolidation company will in
general be framed by a qualified insolvency practitioner and will be
made specifically to match the specific requirements of the client.
There is no typical approach to such things as every situation is different,
and some situations differ exceedingly. The insolvency practitioner
will now prepare the optimum proposal for the client's own circumstances
and then set up a programme of repayments and this is typically for
5 years, although in some cases this may be made to differ.
A number of disciplines
have grown up surrounding the area of insolvencies, and these include
the law and more recent professions including such diverse types as
consultants. All these experts should be used to their best effect.
Each one will have a different area of knowledge and expertise which
you should use to your advantage. Making usage of a debt consolidation
company will make the turnaround from insolvency much quicker and easier.
In order to be
eligible for a debt consolidation company's IVA the client has to be
able to show a salary or earnings above a certain minimum amount and
have liabilities of a total value of not less than a certain sum and
no greater than a certain sum, and such values may change from one insolvency
firm to the next. Normally earnings should exceed these repayments after
necessary bills have been paid including mortgage payments and electricity
and gas, etc. The usual minimal amount of debt is about £2,000 although
this may vary. A maximum threshold of £50,000 is sometimes stated, although
by going through an intermediary the client will be steered to appropriate
source of help to handle their own individual situation.
Our economy is
a highly complicated thing. Economic experts and specialists of all
descriptions want to comprehend how the whole thing operates as a matter
of professional curiosity. It is like a massive machine. Arguably economic
policy has an effect on social and political imperatives and such things
are chiefly regulated by the society that we have. Our society at the
moment is geared towards success ensuring that generally means exposure
to risk. As long as we live with this risk we also have the ghastly
prospect of debt, personal and corporate. Use of a debt consolidation
company is meant to offset this to a large extent.
a look at the Insolvency Service's leaflet called 'In Debt', downloadable
website is property of Debt Consolidation Company. Copyright 2002
-Thereafter. All rights reserved.