What is an IVA?
IVA Explained - Write off up to 70% of your debts!
Your repayments will be dramatically reduced, interest and charges on your debt will be frozen and the demands from your unsympathetic creditors will stop. An IVA will leave you completely Debt free within 60 Months and at this stage, any outstanding debt will be disregarded.
The affects and benefits of an IVA?
Affects
• The IVA will run for approximately 60 months.
• The client will need to either release equity from their property or sell the property.
• The IVA affects the client credit rating for 6 years.
• The client is unable to take on further credit.
• If the client is in receipt of a windfall the client will need to pay this into the IVA.
Benefits
• Contact or further action from creditors is stopped
• At the end of the term any remaining debt is disregarded
• One Manageable monthly repayment • Interest & charges are frozen
• Government backed legislation for Debt management
• A clear date to become Debt Free
Qualified Debt Advisors
Our IVAs are administrated by an insolvency practitioner, who will only advise this resolution if it suits your financial circumstances. If an IVA is recommended, the Insolvency Practitioner will evaluate your income and expenditure to get a clear figure of what you can afford to pay on a monthly basis based upon your outstanding Debt. This information is then submitted to your creditors who will then decide whether or not to agree to your IVA. If 75% of the debt value agree to this your IVA will be approved. Clark Richards have a wealth of experience in providing IVA’s as a solution to your debt problems. We boast a consistently high rate of approval for IVA due to our extensive knowledge of the requirements and criteria and our long established relationships with creditors. Basically if we recommend an IVA, we Know it will be accepted.
Call Clark Richards today!
Clark Richards helps people manage their financial problems on a daily basis with free impartial debt advice and counselling. Our recommendations, be it Debt management or IVA can be the path to financial freedom for many, relieving the pressure and stress caused by DEBT. Our experience advisors are on hand to guide you through simple procedures to review your debt and evaluate your suitability of either IVA or a Clark Richards Debt management program.
Free, Confidential, Impartial advice.
Clark Richards vast range of programmes and financial products including IVA that allow us to tailor a debt solution to suit your specific financial requirements. As specialists in finance and Debt our advisors will recommend IVA if it is in your best interests.
