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 available to you, to determine whether an IVA is your preferred choice.

Step Two: The Proposal

If you have decided to apply for an IVA we will start the IVA process by referring your case to an external Insolvency Practitioner. All the relevant information related to your case will be collected and prepared by the Insolvency Practitioner selected to assist you and they will make ready the IVA proposal for presentation 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 approved.

Step Four: Your IVA

Once your IVA has been approved by your creditors, 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 assets are safe.

Step Five: Debt Free

Once you have successfully completed your IVA, all outstanding balances left unpaid by your IVA payments will be legally written-off leaving you debt free.

Take The First Step

To find out if an IVA is the most suitable solution for you, complete the form below and one of our friendly advisers will contact you at your requested time to discuss what solutions available to you

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