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IVA Case Studies | Individual Voluntary Arrangements



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.
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.
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.
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.
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.
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.
Name: Mr S
Debts: £59,000
Written Off: £32,600
Client was struggling with monthly payments to creditors of £1,550 per month.
He enterd 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.
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.
 
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