IVA Process
Here is the IVA.org application Process in 5 simple stages:
Step One: The Consultation
Together, we will establish whether an IVA is your best option. We will do this by taking the time to fully understand your present circumstances. Once we have analysed your financial position in detail, we will discuss all the options you have open to you, and determine whether an IVA is your preferred choice.
Step Two: The Proposal
Once you have decided to apply for an IVA we will start the IVA process together. All the relevant information will be collected and prepared and your IVA proposal will be made ready to be presented to your creditors.
Step Three: The Agreement
Your creditors meeting will be arranged, during which your creditors will cast their vote as to whether they agree to accept your IVA proposal. When the required majority agree to accept your IVA proposal – the IVA is considered accepted.
Step Four: Your IVA
Your creditors agree to accept your IVA. All interest is immediately frozen, all charges and late payment fees are stopped and creditors must refrain from contacting you regarding your debts. You are now legally protected by the IVA and your creditors forfeit any right to take legal action against you, ensuring your home and any other of your assets are safe.
Step Five: Debt Free
Once you have successfully completed your IVA, any unpaid debts and outstanding balances so far left unpaid by your IVA payments will be legally written-off and you will be completely debt free.
Take The First Step
To find out if an IVA is the most suitable solution for you. Fill out the form below and one of our friendly advisers will contact you at your requested time to discuss what solutions available to you
