An IVA is a form
of debt relief plan set up by the government to provide a solution to
the problem of personal debt and deal generally with the issue of individual
insolvency. An online IVA is the modern way to apply for this.
The needs of one
person can be vastly different from the needs of the next. Any advice
given must thus reflect the distinctiveness of the situation in which
Normally an IVA
will be set to run for 60 months and when this is over all the debts
are cleared from the credit history.
An instrument such
as this will write off the larger part of your debt at the beginning
of the programme (although be wary of the claims made in some advertising:
it is seldom more than 60 or 65% of unsecured debt which can be cancelled).
Any good IVA advice of this sort will ensure you get optimum results
with the lowest monthly repayments together with the highest percentage
of debt written off at the outset.
So fill in the form
for independent and impartial online IVA advice which
is right for your own circumstances.
If you have at least
two accounts in debt, and total debts of £2,000 or more, use the
form below to see if you qualify. (If you owe less than this, or are
on state benefits, then use this
link to apply.)
be aware that figures entered need to be accurate by law, and to give
the best service to you. It is extremely important that you budget for
all necessary expenditure including rent or mortgage, council tax and
utility bills, etc., and any other necessary outgoings related to the
upkeep of your household and inrelation to any specific circumstances
that may relate to you. This website only collects data on behalf of
debt management professionals, from which it will receive affiliate
remuneration for data collection only and does not itself engage in
any debt management services. Other debt management options are available
and may be more suitable. People entering into an IVA or debt management
will have this entered on their credit profile and this may affect their
ability to get credit in the short term or even in the long term in
some cases. It is free to apply from this website; you will be given
advice by debt management professionals and a 'cooling off' period,
by law, to decide whether or not the debt management plan is suitable
for you, and you should be aware that a fee will be chargeable upon
a successful arrangement, as with any commercial transaction. Failure
to meet the repayments on an IVA or any debt management programme may
result in serious consequences, including, but not limited to, bankruptcy.
Bankruptcies, CCJs and similar defaults will be entered into a public
register and will remain there for a statutory period of not less than
six (6) years.
Credit Licence number 633327.
An online IVA will
in general be prepared by a qualified insolvency practitioner and will
be drafted specifically to address the specific requirements of the
client. There is no such thing as a typical method to such matters as
all situations are different, while some differ vastly. The selected
insolvency practitioner will now prepare the optimum programme according
to the client's own individual situation and then ratify a plan of payments
to a central fund and this is typically over sixty months, although
in some situations this may differ.
One distinct benefit
of an arrangement of this kind is that it will instantly reduce your
debt by a fair percentage. This vast reduction in debt makes a substantial
difference and is one of the many things that differentiates an IVA
from a normal management program. Therefore folk seeking any sort of
debt reduction programme should apply for one of these rather than a
conventional program every time.
Most sorts of online
IVA will usually be drafted to serve for five years, but sometimes this
will vary. At the end of the agreed term the debt is considered paid
off and the client exonerated. All records of the various debts registered
corresponding to the client's name and address will be cleared from
the record by authority of the law.
In order to qualify
for an online IVA the applicant must have a salary or earnings which
is above a certain minimum amount and have arrears of more than a certain
sum and not greater than a specified maxima, and these values will change
from one insolvency company to the next. Normally the income must be
proved to cover the calculated repayments after other necessary bills
have been discharged such as mortgage payments and utility bills and
council tax, etc. The usual minimal amount of personal debt is around
£2,000 though this figure can vary. A maximum of £50,000 is sometimes
stated, though by making use of a broker the applicant may be alerted
to appropriate service to attend to their own circumstances.
Our economy is
an extremely complex thing. Economists and specialists of all types
want to figure out how it works as a matter of professional curiosity.
It's like a huge computer. Arguably economic practice has an effect
on social and political needs and these things are chiefly governed
by the society that we live in. Our culture at the moment is underpinned
by successful endeavours so always means risk. As long as we live with
this risk we also have the terrible prospect of insolvency, both individual
and corporate. Use of an online IVA is meant to eliminate this risk
to a certain extent.
online iva advice
online iva application
online iva faqs
online iva help
online iva quote
Debt Consolidation IVA
a look at the Insolvency Service's leaflet called 'In Debt', downloadable
website is property of Online IVA. Copyright 2002 -Thereafter. All