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 IVA clients 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 IVA 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.
And to our IVA 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, our proposal will ensure that your creditors start accruing repayment from the very first month of your IVA.
Then, should your IVA fail to complete successfully, our new approach will reduce the risk of a substantial proportion of your IVA payments being taken to pay our fees instead of being used to payback your debts.
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 the fees you’ve paid for our services will be used to reduce your debt to maximum effect, leaving you no worse off for having tried to complete an IVA that subsequently failed.