IVA Advice

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Fill out our no obligation form today
and you could soon be seeing
a brighter future too.

A Real Life example of how our services changed
one customer's life for the better...

Mr A. of Guildford contacted us in October 2006. He was at his wit's end. Having purchased his home earlier that year, he had no equity to borrow against, and the mounting costs of his new home and supporting his wife and two young children had quickly put him £50,000 into debt.

His monthly minimum payments were over £900, and even at this level he was only repaying the interest each month - the original debt was not even reducing. After his mortgage and these payments, there was barely enough left for his family to live on.

Gradually things got worse. Mr. A. started to miss payments on his credit cards and mortgage - his wife was concerned that they were going to have their beautiful new home repossessed by the building society. She saw one of our adverts and begged him to take action before it was too late.

Our professional qualified advisors arranged an Individual Voluntary Arrangement (IVA) for Mr.A which meant that his debts could be repaid at £325.83 per month, payable over 5 years. Now he will repay a total of £19,549.80, instead of the £50,000 plus interest that he owed. Over the 5 years, that's a saving of over £84,000! Yes, just by talking to us, Mr. A saved over eighty four thousand pounds.

Mr. A and his family are now more relaxed and confident that they have enough money to pay their mortgage and enjoy the good things in life. And best of all, in 5 years, they will be 100% debt free.

Goodbye Debt, Hello Good Life

Wouldn’t it be nice to say goodbye to debt? If you take an IVA advice, maybe you will.

An IVA (Individual Voluntary Arrangement) is a formal arrangement between a creditor and a debtor. In the UK, it is used as an alternative to filing a bankruptcy. It provides a perfect solution because it does not have serious implications on your credit worthiness in the long term.

As a start, you will need to submit a repayment proposal to your creditors. This should be supported by 75% of your creditors. Then once it is approved, all your creditors will be bound to follow. You have to know that this is a very private agreement, and should not be known to anyone – only you, your advisor, and your creditors should know about it.

However, during the IVA period, your financial status is constantly reviewed to check if there are changes to your finances. Remember that your IVA will always be legally binding. So you have to make sure that you keep up with your repayments so you can become debt free.

Online Advice

Since you don’t really have ultimate information about IVA, you need to do a lot of research before you go through with this debt settlement option. You can get IVA advice either online or offline. Of course, online service is much more convenient and economical than an offline.

When you choose an online advice and solution, you can be saved from the hassle of going personally to each IVA company – this will disrupt your work. However, be very careful in choosing. It is very critical to the success of your IVA debt plan. The good thing is, almost anyone today can take advantage of this service.

Mortgage Advice

If you are currently working through an IVA or you already had an IVA in the past, applying for an IVA mortgage should not be so difficult. However, the rate that you would expect will largely depend on how long you have completed your IVA, as well as your deposit level.

In addition, you may find it hard to get credit if you opted for IVA or have already filed a bankruptcy. So if you are having financial problems, you may want to try an IVA remortgage instead.

An IVA remortgage will enable you to free up your home equity if it’s required in the future. Because of increasing demand for remortgages, some lenders have already offered various promos.

So don’t wait for tomorrow. Seek IVA advice today and say hello to the good life. GP

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