IVA Advice
Introduction
CLICK HERE FOR AN IVA ENQUIRY FORM or If you would like IVA advice or simply to discuss the IVA process, please telephone freephone: 0800 074 6918.
IVA Advice
The UK Insolvency Helpline IVA advice team is a free service providing the public with advice and solutions. Each month we advise 1000s of members of the general public who come to us for free debt advice.
We work closely with many advice centres and advice bureaus. We are an independent service staffed by trained money advice counselors.
Many people contact their local advice centres in order to get the best possible advice for their particular situation.
Often people get referred to The UK Insolvency Helpline because the guidance and advice we provide is second to none.
Our debt advice workers are highly trained and are knowledgeable on all areas of debt advice. When it comes to the topic if an IVA we can prove a fill IVA overview. This will include all the IVA costs. The next step will be to discuss the IVA approval process, including the IVA criteria laid out by the Government and the credit industry.
In many cases we do recommend an IVA and choose to opt for discussing bankruptcy advice and information.
CLICK HERE FOR AN IVA ENQUIRY FORM or If you would like IVA advice or simply to discuss the IVA process, please telephone freephone: 0800 074 6918.
IVA advice
The overhang from the recession in the early nineties has given birth to a whole new industry of companies that will help you negotiate with your creditors, but charge you a fee for doing so. The practice of charging people who are already in financial difficulty has drawn considerable criticism, not least from advice agencies that provide money advice and debt counselling services for free. Creditors are also critical, and believe that money that should be paid to them is finding its way into the hands of these new companies.
But are these companies simply cashing-in on other people’s financial misery? Or are they offering a service that their customers value? This research suggests that the truth lies somewhere between these two extremes.
Although around 35 such companies are known to exist, the industry is extremely dynamic, with many new companies coming onto the scene. The industry is currently dominated by several large, national companies which offer debt management services to the public. Reduced repayments on unsecured credit commitments are negotiated with creditors and clients then make one monthly payment to the company which is distributed among their creditors. Debt management companies typically charge clients 15 per cent of the monthly payment to cover their fees.
In addition, there are a number of smaller and more local companies, usually single person enterprises or partnerships. They often work as part of a network of other service professionals, such as solicitors, accountants and insolvency practitioners. These companies provide a service that can best be described as debt advice, which involves diagnosing clients’ financial problems and identifying a range of possible solutions. They typically charge an initial flat-rate consultation fee.
We have found that fee-charging debt advice companies do not offer the same service as free advice agencies, or cater to the same client group, but nor do they aim to do so. On the whole, what they offer is debt advice and, specifically, a means of managing credit commitments. Consequently, the services they offer are not appropriate for everyone with financial difficulties.
The clients of fee-charging companies are much more likely to be in full-time employment than clients of free advice services, and consequently tend to be better off. And, in contrast to the majority of people using free advice services, these clients are unlikely to be in arrears with housing costs or other priority commitments. Rather, they are generally having difficulty maintaining repayments on unsecured credit commitments, typically credit cards, store cards and unsecured personal loans.
We have found that, among the clients of these companies, levels of satisfaction with the service they received are high. Companies are accessible and the staff sympathetic. More importantly, though, companies remove the burden of debt problems from the clients’ shoulders.
If you wish to discuss the Individual Voluntary Arrangement (IVA) procedure and understand how it can help you please complete the following form or telephone freephone 0800 074 6918.
IVA Menu
- IVA (Individual Voluntary Arrangement) Overview
- Starting an IVA
- The IVA process
- IVA Monthly Payment
- IVA Pros and Cons
- IVA FAQs - Frequently Asked Questions
- Starting an IVA
- The IVA procedure
- What is an IVA?
- IVA Enquiry Form
- How to start an IVA
- Who can an IVA help?
- IVA's - Facts & how they work
- Benefits and Advantages of an IVA
- Who can an IVA help?
- IVA - Help and information
- How an IVA works
- IVA - Estimated timescale
- The IVA approval process
- The IVA criteria
- Bankruptcy or IVA
- IVA - What are the costs involved?
- IVA - The documentation required
- IVA - Download forms
- Sample IVA proposals for PAYE worker
- IVA - Guide to creditors Fees
- IVA - Standard Terms & Conditions
- Individual Insolvency Register
- IVA
- IVA lifestyle
- Debt free after an IVA
- Is my home protected in an IVA?
- Chances of IVA rejection
- Keeping my car
- Credit rating after an IVA
- Credit report and the IVA
- Professional accreditation in an IVA
- IVA conclusion
- IVAs and meetings
- Change in circumstances whilst in an IVA
- IVA benefits for creditors
- Failed IVA payments
- IVA Case Studies
- Benefits of an IVA
- Implications of an IVA
- After an IVA - the end of an IVA
- IVA Help
- Best Debt Solution
- Proposed changes to individual voluntary arrangements (IVAs)
- What happens after an IVA fails?
- IVA Guide Centre
