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IVA Individual Voluntary Arrangement

An IVA is a legal process introduced as part of the 1986 Insolvency Act. As per the law, debtors can make a formal proposal to their creditors in order to clear their debt. An IVA could reduce up to 65% your debts and freeze interest on your loan.

Manufacturer - ClearStart IVA
Model # - IVA
Submitted By - ClearStart Debt Solutions (Provider)
Country - England
Category - Debt Settlement : Debt Solutions : IVA

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Specifications

Legal Binding :   IVA is a legal binding between debitor and creditor
Reduce Debt :   IVA Could reduce up to 65 per cent of debts
Low Payment :   Pay only what you can afford monthly
Freeze Interest :   Iva could freeze interest on loan(s)
No Creditors Hassle :   Creditors can not phone or post letters to debitors
Debt Free in 5 Years :   IVA normally finishes in 5 years

Details

An IVA or Individual Voluntary Arrangement is an alternative debt solution to bankruptcy.

An IVA provides you with a way of working with your creditors - to provide a mutually beneficial solution so you can reach a final, legally binding settlement.

An IVA replaces all your current debt repayments with one affordable monthly payment, which is paid over a period of five years. After that time, any remaining debt is written off therefore making you debt free, which will be such a relief.

IVA monthly repayments can start from as low as £150, which is usually much less than your existing minimum payments on unsecured debt such as credit cards and loans.

An IVA may be the option for you if you have unsecured debts of at least £15,000, live in England, Wales or Northern Ireland- and have around £200 of disposable income per month.

For more information on IVA's and debt solutions, please contact ClearStart for free, impartial and immediate advice. We're here to help you make the right debt management decisions.

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