An Individual Voluntary Arrangement is a legally binding agreement between you and your creditors. If you’re in the position where you feel you are going to be unable to meet the terms of your current credit, you can use an IVA to avoid such consequences as bankruptcy and court action.
(more…)When you find yourself in the position where you can no longer meet your debts, it can seem like you have fewer and fewer options left to explore as time passes.
(more…)If you’re exploring the use of an Individual Voluntary Arrangement to get on top of your debts, it’s vital that you arrive at an agreement that suits you.
(more…)If you’re thinking about whether or not an IVA or Individual Voluntary Arrangement is going to be a good option for you, there are a few factors to bear in mind before taking any decisions.
(more…)Is an IVA (Individual Voluntary Arrangement) right for you? Well the simple answer is that it depends. A qualified Debt Advisor or Insolvency Practitioner is the person best placed to advise you on what your options are if you find you’re going to be unable to meet the terms of your debts.
(more…)The first thing you’ll need to do is find an Insolvency Practitioner to take your case forward.
(more…)Whether or not an IVA (Individual Voluntary Arrangement) is something that will be either available to or suitable for you really depends on your own particular circumstances. The best way to work out what your options are is to discuss your case with an Insolvency Practitioner.
(more…)Being in a Debt Management Plan (DMP) should in itself not prevent you from offering proposals for an Individual Voluntary Arrangement (IVA) to your creditors.
(more…)Any person can offer IVA proposals to their creditors provided they are insolvent. It is not necessary to own a home or indeed any other asset such as a car or boat.
(more…)Most people maintain a current account into which their wages or salaries are often paid by their employer via BACS or by other such means.
(more…)Reputable insolvency firms which offer financial solutions do not charge upfront fees when financially distressed clients initially contact them.
(more…)In the first five articles in this series, we looked at the possible effects of insolvency on the careers of those engaged in a variety of professions: accountants, members of the police and of the armed forces, members of the medical, dental, veterinary & pharmaceutical professions and those engaged in the practice and administration of law.
(more…)Creditors have three choices when they meet to decide on a debtor’s IVA. Their first choice is to accept the proposal as it stands.
(more…)In the fourth article in this series, we looked at the possible effects of insolvency on the careers of those engaged in the medical, dental, veterinary and pharmaceutical professions.
(more…)In the third article in this series, we looked at the possible effects of insolvency on the careers of members of the Armed Forces and of the Police.
(more…)A trader proposing to do an IVA should be aware that HM Revenue & Customs (HMRC) now try and insist on completion of Self Assessment (SA) returns before supporting the proposal.
(more…)The short answer is yes – in certain circumstances you can enter an Individual Voluntary Arrangement (IVA), without your partner’s knowledge, provided of course that you are insolvent.
(more…)Co-habiting partners, whether married or not, share most aspects of their lives. Although each partner often earns their own income independently of the other, many couples share the burden of paying for their normal living expenses on a mutual basis.
(more…)One of the great concerns for people who are considering entering into an Individual Voluntary Arrangement (IVA) is what might happen if they lose their job and are unable to make their monthly contributions to their IVA.
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