IVA Specialist

An IVA can come to the rescue of people who are facing debt repayment problems. An online IVA specialist can be very helpful for the affected borrowers in drafting their IVA proposals so that they get approved by the lenders.
An IVA will usually involve a simple, affordable, five-year repayment plan, followed by the write-off of any remaining debt. It aims to reduce the hassles of the debtors in making repayments and they are provided with a simple monthly repayment plan based on their ability to pay. Providing the debtor maintains their repayments in accordance with the terms of the IVA, they can be completely free from debt within five years. An IVA is designed to alleviate the problems of a debtor and it usually involves creditors consenting to write off a portion of the escalating debt. An IVA is a special kind of debt settlement procedure which takes place between the affected debtors and a group of creditors with the result being a repayment plan that is suited to the debtor’s circumstances.

An IVA may be the recommended option for a debtor facing severe debt repayment problems and wishing to avoid bankruptcy. Depending on their circumstances, an IVA can help the debtor clear their debts in five years, usually with a significant amount written-off by their creditors. Under an IVA arrangement, the debtor makes a single monthly payment to the IVA company, who distributes this to the creditors by way of repayment of the debt.

In order for an IVA to be accepted, a number of criteria must be met. Although these are not set in stone, the usual benchmark for acceptance is for the debtor to have over £18,000 in unsecured debt, 3 or more creditors, and the ability to pay £200/month into the IVA. With the help of the advice of an IVA specialist of an IVA company, a debtor can make sure that he is able to make his/her creditor/creditors to approve a favourable debt reconciliation plan. He/she can make sure that the IVA Company assists him/her with the collection of the requisite financial data for an effective presentation of an individual voluntary arrangement offer before the group of creditors.