An IVA (Individual
Voluntary Arrangement) is a form of debt relief program set up by the
government to provide a solution to the growing problem of credit card
debt consolidation within the larger issue of individual insolvency.
The needs of one
person can be vastly different from the needs of another. Any credit
card debt consolidation advice given must take into account the distinctiveness
of the situation in which people live.
Normally an IVA
will be set to run for 60 months (sometimes less) and when this is over
all the debt is discharged from a person's record. During all this time
no banks are permitted to pursue or harass the debtor, though this cannot
be completely guaranteed. The IVA has the benefits of bankruptcy and
none of the drawbacks.
An IVA will write
off the larger part of your debt at the beginning of the programme.
Any decent credit card debt consolidation advice will ensure that you
get the best results with the lowest monthly repayments together with
the highest percentage of debt write-off at the outset.
So complete the
application form for impartial and independent debt consolidation
advice for your own circumstances.
If you have at least
two accounts in debt, and total debts of £2,000 or more, use the
form below to see if you qualify. (If you owe less than this, or are
on state benefits, then use this
link to apply.)
be aware that figures entered need to be accurate by law, and to give
the best service to you. It is extremely important that you budget
for all necessary expenditure including rent or mortgage, council
tax and utility bills, etc., and any other necessary outgoings related
to the upkeep of your household and inrelation to any specific circumstances
that may relate to you. This website only collects data on behalf
of debt management professionals, from which it will receive affiliate
remuneration for data collection only and does not itself engage in
any debt management services. Other debt management options are available
and may be more suitable. People entering into an IVA or debt management
will have this entered on their credit profile and this may affect
their ability to get credit in the short term or even in the long
term in some cases. It is free to apply from this website; you will
be given advice by debt management professionals and a 'cooling off'
period, by law, to decide whether or not the debt management plan
is suitable for you, and you should be aware that a fee will be chargeable
upon a successful arrangement, as with any commercial transaction.
Failure to meet the repayments on an IVA or any debt management programme
may result in serious consequences, including, but not limited to,
bankruptcy. Bankruptcies, CCJs and similar defaults will be entered
into a public register and will remain there for a statutory period
of not less than six (6) years.
Credit Licence number 633327.
Card Debt Consolidation
Credit card debt
consolidation will generally be dealt with by a qualified specialist
insolvency practitioner and will be drafted specifically to cover the
specific requirements of the client. There is no typical attitude to
these matters because every state of affairs differs, and some are extraordinarily
different. The selected insolvency practitioner will now prepare the
most advantageous proposal for the client's own individual situation
and draw up a programme of repayments typically for sixty months, although
in certain situations this may be made to differ.
A great benefit
of an agreement of this kind is that it may immediately reduce your
debt burden by a considerable percentage. This reduction of debt makes
a considerable difference and is one of the things that distinguishes
an IVA from a regular debt management plan. Therefore folk seeking help
for debt relief should apply for that over a standard debt relief programme
Our economy is
a very complicated entity. Expert economists and scientists of all types
try to comprehend how the whole thing operates as a matter of professional
curiosity. It resembles a massive machine. It is a matter of contention
whether day to day economics impinges on social and political imperatives
and these are mainly governed by the society that we live in. Our community
at present is aligned towards success ensuring often means exposure
to risk. For as long as we have this danger we also have the ghastly
prospect of debt, both personal and corporate. Using a credit card debt
consolidation instrument such as an IVA is designed to offset this risk
Credit card debt
consolidation is a highly useful legal instrument and many people would
jump at the chance of entering into one because it is sanctioned by
the law and releases the holder from all debts at end of term. This
is a much more benign answer to long-term debt than other harsher measures
such as making the debtor bankrupt and has none of bankruptcy's stigma.
a look at the Insolvency Service's leaflet called 'In Debt', downloadable
website is property of Best Credit Card Debt Consolidation. Copyright
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