IVA Debt Advice
Dedicated Debt Counsellors
The UK Insolvency Helpline are specialists in the area of IVA debt advice. There is a special advice unit within the debt management team called the IVA debt advice unit that has dedicated counsellors only advising on Individual Voluntary Arrangements.
The best advice we can give early on to clients is read all of our fact sheets and literature on the choices available. Some clients opt for debt management programmes to get debt free whereas other decide they debt consolidation loans. Others try an IVA or go bankrupt.
The debt advisory service service offers confidential debt advice, no obligation debt management as alternatives to IVA debt advice for those owing below £15,000.
Every year we advise clients on the following areas:-
- IVA debt advice
- Debt Consolidation loans
- IVA - Individual Voluntary Arrangements
- Protected Trust Deeds, for Scottish residents in debt.
- Bankruptcy
- Budgeting
- Administration orders
- Debt management plans.
The whole area of debt management is very complicated and we will provide clients with confidential debt advisory service providing advice and solutions on all debt and credit problems. To aid the whole IVA debt advice process we have dedicated sections on debt management. The criteria debt management is for people with debts below £15,000 or who owe money to only one or two organisations. Debt management is also suitable for people with lots of equity in their properties or who don't want to go bankrupt or who have had IVA debt advice and prefer to keep matters informal.
The debt advice service offered can accessed online or by calling 0800 074 6918.
The process of debt consolidation and IVA debt advice can be confusing. It can look like there are no many options. A popular option for clients owing above £15,000 to at least 3 separate creditors is an IVA. An Individual Voluntary Arrangement - IVA is a formal agreement between you and your creditors where you will come to an arrangement with people you owe money to, to make reduced payments towards the total amount of your debt in order to pay off a percentage of what you owe then generally after 5 years your debt is classed as settled. Due to its formal nature, an Individual Voluntary Arrangement - IVA has to be set up by a licensed professional.
Unlike advice sector firms our teams do not charge any upfront fees for putting together a client's proposals for an Individual Voluntary Arrangement - IVA.
Clients who can afford at least £200 per month can IVA debt advice from The UK Insolvency Helpline. The result of the IVA is that a large percentage of debt can be written off. This can be up to 75%.
Please call 0800 074 6918 to see if you can qualify for an IVA. Alternatively you can use our website based application form to see if you qualify for IVA debt advice.
Disclaimer
Please note that in line with OFT debt management guidance, The UK Insolvency Helpline Debt Advice Service does not provide nor administer debt solutions itself. Instead the service will put you in touch with a licensed professional to arrange the debt solution. Please also note that unlike most licensed insolvency practitioners, the licensed insolvency practitioners that consumers are referred or forwarded by The UK Insolvency Helpline for an IVA (Individual Voluntary Arrangement) to do not charge any upfront fees. This fee structure means that the monthly payments consumers make into the IVA will cover the payments to the creditors as well as the licensed insolvency practitioner's fee for preparing, nominating and supervising the IVA. Finally, please note that where consumers are referred for debt management plans these services attract a fee. The information given in this section is for general guidance only. It is not a detailed or full statement of law.
