Individual Voluntary Agreement - Bankruptcy-Insolvency
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Checkout here Presentation of individual voluntary agreement.Money Advice Direct will help get you out of debt. A UK debt advisory service.call now at 0800.074.6918
Transcript of Individual Voluntary Agreement - Bankruptcy-Insolvency
What is the procedure of an Individual Voluntary Arrangement (IVA)?
You complete and return bankruptcy-insolvency standard application form together with copies of all recent bank statements.
On receipt of your questionnaire one of bankruptcy-insolvency consultants will contact you in order to talk through your application.
If bankruptcy-insolvency case meets their standard criteria you will accepted onto the IVA programme and referred to one bankruptcy-insolvency's panel members.
The panel member will now act for you and will then contact all your creditors informing them that they are now your legal representative.
Based on the information provided by you an IVA proposal will be draughted, this is a written agreement which sets out the actual terms of the IVA.
Advantages of IVA • You may only pay back a percentage
of your debts
• You only have to make one monthly payment or in some cases, a one-off lump sum
• The Arrangement is legally binding so that your creditors cannot change their minds once they have agreed
• Once the IVA is in place your creditors cannot bring any other action against you as long as you maintain your agreed monthly payment
• You are able to operate a 'normal' bank account as long as it does not have an overdraft facility
• No publicity in the local papers
• It may safeguard for your property
Contact usMoney Advice Direct
[email protected] House,239 Regents Park RoadLondonN3 3LFUnited KingdomLicense Number- 592071Registration number- Z9668806Phone:0800 074 6918http://www.bankruptcy-insolvency.co.uk/
