Welcome to www.iva.yourtoys.co.uk, a true alternative to avert bankruptcy. With us you no more have to file for bankruptcy, we help you out of your financial predicament. No more get daunted about repaying the pending debts. WE bring the right IVA solution to you!
Enhanced assistance along with a comprehensive guide on IVA will lead you to your financial freedom. Avail free online expert advice and find out the various ways to get out of your debt maze in a cost-effective manner.
An IVA is a true alternative for bankruptcy and enables an individual in debt to make a proposal to the creditor they owe money to reach a settlement.
It’s an agreement signed between you and your creditor to make a single reduced monthly payment which is spread over a period of time(normally 5 years) after which the debt is cleared off. Creditors stop charging any further interest on your loan once the IVA is agreed upon. The agreement made is fixed and no changes will be made further on as per the Insolvency Act of 1986. Your IVA can be arranged only by an insolvency practitioner to get you out of unsecured debts of £15,000 or more.
Usually, you end up paying an affordable monthly payment of £250 per month. Payments are based on what an individual can afford over a period of 5 years and is substantially less than the existing minimum payments made on credit cards and loans.
Once approved an IVA runs for five year period during which a borrower makes monthly payment which is governed by the Insolvency practitioner. The Insolvency Practitioner then reviews the pay slip of the borrower every quarterly period and a full review every twelve months roughly. During this period no creditor can take any legal proceeding and has to freeze all interest charges. By the end of this five year period you are no more made to pay and are cleared of debts.
STOP! Bankruptcy. Settle down with an IVA!
With us you keep both your house and car!
The Individual Voluntary Arrangement (IVA) is specifically designed to avoid the stigmas surrounding Bankruptcy.
Can IVA work for me?
An IVA can help you when you are unable to pay off your mounting debts and do not want to file for bankruptcy. It’s a better option to consider as you enjoy better results than bankruptcy. It’s a win- win situation to both a creditor as well as a debtor.
Some simple guidelines for which IVA can work:
- Minimum unsecured debt of around £15,000 -20,000. (no maximum)
- Minimum monthly payments of £200-300. (no maximum)
- If you meet the above, IVA can help you
The IVA is specifically designed to overcome the drawbacks of other debt approaches:
IVA PROs:
- Reduced single monthly payment
- Fixed legally binding agreement
- STOP any court action against you
- Stop creditors’ calls and payment demands
- Repair your credit ratings
- Your professional status is unaffected
IVA CONs :
- No Unsecured Borrowing during the Arrangement
- Any defaults made on IVA results in bankruptcy proceedings
- Takes 5 year period unlike 3 year period of bankruptcy
- After the IVA, the impact on the credit rating makes it hard to borrow further.
- Make the best use of IVA as a good alternative to bankruptcy and agree to pay some amount within a stipulated period with your creditor and free yourself from debts in future.
Apply Now! Get rid off your debts soon! Set right your adverse credits!
For free legal advice from an experts without further obligation just complete and send the Application form.
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