Debt Management Center

IVA Help
Home Home How It Works How it Works FAQs FAQs Contact Us Contact Us
Get yourself on the road to financial freedom
Become Debt Free, Apply Today
Debt Management Centre
  • Reduce your debts quickly
  • Protect your family
  • No more embarassing phone calls
  • Protection from your creditors
  • No more threatening letters
First Name:*
 Last Name:*
Post Code:*
Home Phone:*
 Mobile/Work Phone:*
Email Address:*
 Best Time To Contact:*
Monthly Net Income:*
 Monthly Expenses:*
Nature of Income:*
 Residency Status:*
Number of Debts:*
 Total Amount Owed:*
(excluding mortgages and/or secured loans)
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.

Learn IVA to Help You Be Debt-Free

Individuals facing debt problems consider an IVA (Individual Voluntary Arrangement) to clear off their debts. But before you get IVA help, you’ve got to understand exactly what you’re getting into.

What’s an IVA?

An IVA is basically an agreement you go into with your creditors. It contains a promise that you will pay them back with as much money as you can within a 5-year period. The type of loans where you can use this settlement method include unsecured loans, Inland Revenue, council tax arrears, business rates, and personal loans from family or friends.

You are qualified to avail of IVA if you:

1. Are unable to pay your monthly repayments on time
2. Have £15,000 or more of unsecured debts
3. Pay high loan rates
4. Have a stable monthly income

How can it help?

So how can IVA help you? Here are some advantages:

1. Your creditor will agree to erase your debt up to 95% off.
2. They should not contact you in any way (for instance, either through telephone or letter) or pursue any legal action against you.
3. You will have frozen interest rates.
4. There should be no charges put up against your account.
5. Details of IVA are not published openly (unlike bankruptcy). It is a very confidential arrangement, and only your creditors know about this. In fact, even your landlords or employers will not be informed.

Indeed, IVA is still a better alternative to bankruptcy. However, take note that you will not go through with this settlement by yourself. This should be carried out by a dedicated insolvency practitioner.

Then, after paying the reduced monthly payment for five years, your debts will be wiped out. No more demand letters, collection calls, or court proceedings will be pushed against you. In other words, there will be no more debt and you will be free.

Are there some drawbacks?

Although an IVA has great benefits, there are some drawbacks of this method too. These are the following:

1. If you defaulted on your payment on IVA, bankruptcy proceedings will start.
2. You should have no unsecured loans during the IVA period.
3. It takes 5 years of settlement period (compared to 3 years of bankruptcy).
4. After IVA help, there will be a negative impact on your credit rating.

So before you decide whether you will go through an IVA or not, you’ve got to weigh the pros and cons of this method carefully. Who knows, this might be the ticket to your financial freedom. GP

Home Contact Us Sitemap Terms Privacy
The Debt Management Centre © 2009. All rights reserved.