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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.

IVA Companies Help Solve your Debt Problems

If you are finding it difficult to clear your debts, you can benefit from an Individual Voluntary Arrangement (IVA). This can be a very good option if you want to avoid bankruptcy. Since bankruptcy has longer and bigger negative implications, an IVA is often used instead.

An IVA company has a team of qualified experts for you to consult with. It does not usually charge an upfront fee when they put together your IVA proposal. They just get their fees from a percentage of your monthly payment once your arrangement has been approved by your creditors.

However, when you encounter a company that takes your payment even before the approval of your IVA, you have to make sure that they have a money back guarantee so that your payment will be refundable in case the IVA is not accepted by the creditors.

Help through IVA

Basically, an IVA is a legal contract agreement between you and your creditors. What’s good about an IVA is that it can conform to your own circumstances. It is a formal agreement that states how you are going to pay your creditors within a period of five years.

So when choosing an IVA company, you should choose one that has in-depth experience in handling these cases. Also, these companies usually have in-house licensed insolvency practitioners that can help you solve your debt problems. An IVA helps by:

1. Freezing all the charges and interests of your accounts.
2. Liaising with creditors.
3. Distributing IVA funds to your creditors.

IVA Company Services

Before you opt for an IVA, you’ve got to do careful research. Make sure that the company you will get already has a good reputation for helping people in debt. You also have to assess if they can really advise you on the next course of action you need to take.

Take note that it is normal for the company to question you regarding your existing financial situation. They need to know all pertinent details about you so that they can compute for the repayment amount to present to your creditors.

Depending on your company, they may also offer the following services:

1. Debt Management IVA
2. Credit Card IVA
3. IVA Info
4. IVA Debt Help
5. IVA Advice
6. IVA Solution
7. IVA Application

At the end of the day, you are still the only person who can decide on the most appropriate IVA company for you. At the very least, you need a company who has the capacity and experience to help you. GP

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