IVA Case Study Examples

Below are examples of some of our recent IVA cases.

Name: Ms W	Debts: £15,500	Written Off: £5,900
Young lady struggling to pay creditors £470 per month. She entered into an IVA in September 2009 and her monthly payments were reduced to £160 per month. In 60 months she will be DEBT FREE.
Percentage Repaid: 64%	Percentage Written Off: 36%

Name: Ms H	Debts: £19,000	Written Off: £4,000
Single mother struggling to pay creditors £560 per month. She entered into an IVA in September 2004 and her monthly payments were reduced to £250 per month. In 60 months she will be DEBT FREE.
Percentage Repaid: 79%	Percentage Written Off: 21%

Name: Mr K	Debts: £25,000	Written Off: £10,600
Client struggling to pay creditors £600 per month. He entered into an IVA in September 2004 and his payments were reduced to £240 per month for the next 60 months when he will then be DEBT FREE.
Percentage Repaid: 58%	Percentage Written Off: 42%

Name: Mr M	Debts: £33,000	Written Off: £12,000
Client paying creditors over £920 per month. He entered into an Individual Voluntary Arrangement (IVA) in September 1999 and his monthly payments were reduced to £350. In Sept 2004 he successfully completed his IVA and is now DEBT FREE.
Percentage Repaid: 64%	Percentage Written Off: 36%

Name: Miss N	Debts: £38,000	Written Off: £22,400
Client struggling to make monthly payments of £785 on approx £38k of debt. We reduced this to £260 per month and in 60 months she will be DEBT FREE.
Percentage Repaid: 41%	Percentage Written Off: 59%

Name: Mr S & Miss W	Debts: £46,000	Written Off: £23,700
Clients were struggling with payments of over £700 per month to creditors. They entered into IVAs in September 2002 paying creditors £300 per month. In May 2003 they proposed to re-mortgage and raised £19k which creditors accepted as full and final settlement. By July 2003 they were DEBT FREE.
Percentage Repaid: 49%	Percentage Written Off: 51%

Name: Mr S	Debts: £59,000	Written Off: £32,600
Client was struggling with monthly payments to creditors of £1,550 per month. He entered into an IVA in September 2004 and his payments were reduced to £440 per month for the next 60 months. After this time the client will be DEBT FREE.
Percentage Repaid: 45%	Percentage Written Off: 55%

Name: Mr & Mrs M	Debts: £106,000	Written Off: £54,450
Clients were struggling to pay creditors £2,500 per month. In February 2003 they entered into an IVA. Monthly payments commenced at £350, and in February 2004 they subsequently remortgaged, surrendered endowment policies and raised just under £47k. Creditors accepted this as full and final settlement. The clients are now DEBT FREE.
Percentage Repaid: 49%	Percentage Written Off: 51%

An IVA is "Individual" and as such any debts written off will be dependent on your circumstances and not your debt value.

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"...I cannot say it often enough. I am grateful to you for having supported me this past year. The past three years have been a total nightmare and I would not have survived them without you. You really are my heroes..." Miss R, London

* A fee is only payable where further services are requested. All fees will be explained in detail and discussed prior to commencement of any service or debt repayment plan. In the IVA our fees are included in your monthly payment to your creditors so you will not have to pay anymore than you can afford. More suitable debt solutions may be offered which may result in different fees applying and we will discuss those with you during your initial consultation. Creditors may still contact you with promotional material or to fulfil contractual obligations to you but they should deal with us in all aspects relating to the outstanding debts.
Acceptance of your IVA cannot be guaranteed but we will do our best. You must meet certain criteria which will be discussed with National Debt Relief advisors. Where we put a client forward for an IVA we believe they have an excellent chance of being accepted. Debts will only be written off where a client has made an agreed payment for a fixed period. In return the creditors agree to write off the remaining balance. Typically, our clients average debt write off is between 60-70% of the debt. What debt you have written off will depend on your individual circumstances and is subject to creditor approval and completion of the IVA. Your credit rating may be impacted for up to six years from the commencement of you IVA. Homeowners may be required to introduce equity if available.

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