- Call us on 0800 197 0402 or submit your details in the “contact us” section.
- If you qualify we will send you out the introduction pack.
- Complete and return the introduction pack.
- We will deal with any and all paperwork for you.
- Once officially instructed by you we will write to all of your creditors.
- We will ask them to stop interest and charges straight away.
- We will draft your offers based on the information that you have provided us with.
When you make the first contact with us we will need to have information regarding all of your debts and your income and expenditure. Only if we think an IVA would work for you would we put forward proposals to your creditors.
We will then complete a proposal form which will be sent to every one of your creditors.
Once the creditors have had time to consider the proposal we will then arrange a Creditors Meeting.
If 75% (by value of the debt) of the creditors are able to accept the Proposal then the IVA will be approved.
After tbe Proposal has been accepted, we will act as Supervisor to the IVA. Our job is to make sure that you pay your creditors each month the amount agreed.
Which Debts Can Be Included?
Normally any unsecured debts can be included within an IVA. These include but are not limited to:
- Store cards
- Catalogues
- Credit cards
- Personal loans
- Student loans
- Overdrafts
- Outstanding balances after home or vehicle repossession
- Business loans for which you are personally liable
Personal debts to the Inland Revenue and VAT can also be included but may be treated preferentially within the proposal.
Some debts can not be included within an IVA. These will normally secured debts such as a vehicle HP or Mortgage arrears. Other debts such as Rent and Council Tax arrears and fines (such as parking offences) will normally have to be paid and provision for the repayment of these debts will be made separately. |
