An Individual Voluntary Arrangement (IVA) is a formal agreement to repay all or a portion of the debt. After repayments are negotiated with creditors, the debtor issues regular payments to an authorized debt specialist referred to as an insolvency practitioner or IP. The IP allocates money from each payment to creditors according to the terms … Read more
Store cards, credit cards, personal loans, and other consumer credit debts are included in typical Individual Voluntary Arrangements (IVAs). A relatively small number of lending institutions provide this credit and most base their IVA approval decision on standard criteria. This information serves as general guidance regarding the criteria most likely to be accepted by a … Read more
An Individual Voluntary Arrangement (IVA) usually takes four to six weeks to establish. This estimate is based on the timeliness of the debtor when providing payslips, copies of creditor statements, and other documentation. During this stage, an Insolvency Practitioner (IP) is named and issues the proposal, thus the term “Nominee Process.” We are experts in … Read more
An IVA, Individual Voluntary Arrangement, is one of the most popular formal debt management programs in the UK. Established by the government under Part VIII of the Insolvency Act 1986, this arrangement involves a formal proposal for repayment of unsecured debt. An IVA is a flexible solution to the all too commonplace issue of debt. … Read more