Our Approach and Pledge
IVAorg CIC is a Community Interest Company that was established with the clear objective of providing free advice and counselling relevant to the relief of poverty amongst persons living in the United Kingdom.
IVAorg CIC is not established or conducted for private gain and any surplus we generate or assets owned are used principally for the benefit of the community.
We identified a clear requirement for a new and sustainable approach to be adopted within the IVA sector that prioritises the needs of both a debtor and their creditors above the commercial considerations of the insolvency practice and other intermediaries in the debt resolution process.
Our new approach ensures that our clients start building repayments to their debts from the very first month of their IVA and that if, for whatever reason, their IVA is unable to complete successfully, more of their debt will have been repaid using our new model than would have been the case under the current standard commercial arrangements used by all other IVA providers, without exception.
And to our clients we say, 'We embrace the principle that we, too, have a vested interest in ensuring your IVA has the maximum chance of reaching a successful outcome and, in so doing, provide you with the very best chance of becoming debt free'.
By entering into an IVAorg IVA
IVAorg CIC will propose charging a fixed 'all-inclusive' monthly management fee, to be applied evenly throughout the life of your IVA.
If accepted, this proposal will ensure that your creditors start accruing repayment from the very first month of your IVA instead of having to wait months or, sometimes, years before being entitled to receive money from your IVA fund, as is the case with the current fee model used by all other IVA providers.
Our unique and ethical approach reduces the risk that a substantial proportion of your IVA payments could be taken to pay fees instead of being used to payback your debts, should your IVA fail to complete successfully.
In the event that creditors introduce a modification to our proposed fee model, we will voluntarily apply the principles of our fee model, retrospectively and in good faith, ensuring that you will still benefit from our model should your IVA fail to complete successfully.
Furthermore, should your IVA fail to complete successfully through no fault of your own, we pledge that the fees you’ve paid will be used to reduce your debt to the maximum effect, guaranteeing to leave you no worse off.