{"id":9630,"date":"2014-01-21T15:52:08","date_gmt":"2014-01-21T15:52:08","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=9630"},"modified":"2019-05-20T16:11:54","modified_gmt":"2019-05-20T15:11:54","slug":"need-iva-advice","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/need-iva-advice\/","title":{"rendered":"Need IVA Advice"},"content":{"rendered":"\n

If you\u2019re in serious financial difficulty<\/strong> it\u2019s impossible to overstate the importance of getting good advice. This is particularly the case if your situation is moving towards insolvency or bankruptcy. <\/p>\n\n\n\n\n\n\n\n

Apart from the fact that handling these issues requires the skills of professionals who specialise in them, it\u2019s also the case that an expert can give you a good overview of what your choices are, helping you to take decisions that are in your best interests in the longer term.\u00a0<\/p>\n\n\n\n

Professional Advice<\/h2>\n\n\n\n

A licensed Insolvency Practitioner<\/strong> can not only \nhandle the legal aspects of insolvency, but can also give you balanced \nadvice as to what the best of your available choices is. When you \nconsult an IP, the first thing they will need to do is carry out a \nthorough examination of your current financial state. This will involve \nassessing your income<\/strong>, outgoings<\/strong>, debts<\/strong> and assets<\/strong>.<\/p>\n\n\n\n

Assessment<\/h2>\n\n\n\n

Once your IP has an overall picture of your case, they will be able \nto outline the choices that you face. In many cases you will find that \nyou have more options than you had at first thought, particularly if you\n have any assets. As well as outlining the possibilities, an IP can help\n you to be sure you fully understand the consequences of any choice that\n you may make, both now and for later on.<\/p>\n\n\n\n

\"Need<\/figure>\n\n\n\n

Your Options<\/h2>\n\n\n\n

For people who simply can no longer meet their debt payments, there are a number of things an IP may suggest. Bankruptcy<\/a> is only one of the possible outcomes in these cases, and there are many avenues you can explore that can help you to avoid this.<\/p>\n\n\n\n

For example, you can attempt to reach alternative agreements with \nyour creditors in order that you may still manage to make the required \npayments. Naturally these things involve negotiation with the creditors,\n and there are ways in which you can get help in doing this. Debt \nmediation services are hugely helpful to people in these positions.<\/p>\n\n\n\n

IVA<\/h2>\n\n\n\n

Another possible course of action that your IP may suggest, is using \nan Individual Voluntary Arrangement. This is basically a formal measure \nto settle your existing debts, and stop them from getting further out of\n control.<\/p>\n\n\n\n

IVAs work by drawing up an agreement through which you will pay at \nleast a portion of the debts you owe, but normally not the full amount. \nYour IP will present the proposal to the creditors and can mediate \nbetween you throughout the process, making sure your interests are \nprotected. If the IVA is accepted, it prevents your creditors from \ntaking action against you or increasing the amount owed\/ charged etc.<\/p>\n\n\n\n

Get Help<\/h2>\n\n\n\n

Whatever your situation, finding yourself with unmanageable debts can\n be extremely stressful, and trying to navigate the seemingly endless \noffers to solve your problems doesn\u2019t help. The best first step you can \ntake in getting things under control is to get the right advice. A \nlicensed professional will represent your interests and make sure you \nget the chance to take the best measures to preserve your financial \nhealth and future.<\/p>\n","protected":false},"excerpt":{"rendered":"

For people who simply can no longer meet their debt payments, there are a number of things an Insolvency Practitioner may suggest<\/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-9630","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\/9630","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=9630"}],"version-history":[{"count":2,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/9630\/revisions"}],"predecessor-version":[{"id":9670,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/9630\/revisions\/9670"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=9630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=9630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=9630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}