{"id":3772,"date":"2014-01-24T16:43:15","date_gmt":"2014-01-24T16:43:15","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=3772"},"modified":"2019-03-19T17:07:04","modified_gmt":"2019-03-19T17:07:04","slug":"time-to-arrange-an-iva","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/time-to-arrange-an-iva\/","title":{"rendered":"Time to arrange an IVA"},"content":{"rendered":"\n<p><strong>IVAs typically don\u2019t take too long to set up<\/strong>, and are generally up and running within a few weeks. Your <strong>Insolvency Practitioner<\/strong> (IP) will guide you through the process, and make sure you understand what is going to happen at each stage.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>As soon as your IP has established that you are going to explore \nusing an IVA, they will apply through the courts for an Interim Order. \nThis means that you do not need to worry about what is going to happen \nwith your debts while the IVA is being set up, as it freezes any action \non the debts for the time being. The Interim Order prevents your \ncreditors from taking any legal action against you while the IVA is \nbeing worked out and proposed.<\/p>\n\n\n\n<p>This period gives you a bit of breathing space and allows you to take\n the time to work out an effective proposal along with your IP. At this \nstage your IP will get a thorough understanding of your overall \nfinancial situation, and will advise you as to what you should propose. \nThey will then draw up the proposal and put it to your creditors. The \nproposal will be designed to be manageable for you to keep to.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"424\" height=\"283\" src=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/03\/Fotolia_52641677_XS.jpg\" alt=\"IVA Proposal\" class=\"wp-image-3777\" srcset=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/03\/Fotolia_52641677_XS.jpg 424w, https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/03\/Fotolia_52641677_XS-300x200.jpg 300w\" sizes=\"auto, (max-width: 424px) 100vw, 424px\" \/><\/figure>\n\n\n\n<p>Once the proposal has been put to the creditors, they get to vote as \nto whether to accept the IVA or not. Sometimes they may ask for \namendments to be made, and there may be a small amount of negotiation \nthat goes on. Your IP will handle all of the negotiations for you and \nthe process tends to be a prompt one. The creditors won\u2019t spend much \ntime deliberating, and you will know quickly whether or not they have \naccepted your IVA.<\/p>\n\n\n\n<p>When an IVA plan that is acceptable to both you and your creditors \nhas been agreed on, your IP will then take the necessary steps to \nactually set the IVA up. Shortly after this you will be making your IVA \npayments and working towards clearing the debts without the anxiety of \nfeeling threatened by legal action or indeed bankruptcy.<\/p>\n\n\n\n<p>To explore any of the above please contact us at <strong>National Debt Relief<\/strong>.<\/p>\n\n\n\n<p>National Debt Relief belongs to a firm of leading chartered \naccountants who are one of the largest insolvency practices in the UK. \nWe offer a complete portfolio of <strong>personal insolvency<\/strong> services in relation to IVA, Debt Management Plan and Bankruptcy. All our debt advice is confidential and with no obligation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IVAs typically don\u2019t take too long to set up, and are generally up and running within a few weeks. Your Insolvency Practitioner (IP) will guide you through the process, and make sure you understand what is going to happen at each stage.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-3772","post","type-post","status-publish","format-standard","hentry","category-iva-articles"],"_links":{"self":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/3772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/comments?post=3772"}],"version-history":[{"count":2,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/3772\/revisions"}],"predecessor-version":[{"id":3783,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/3772\/revisions\/3783"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=3772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=3772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=3772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}