Can I apply for an IVA?
1. Have you got more than £7,000 of unsecured debt?
2. Do you have at least 2 creditors?
3. Are you employed (or self-employed), with a surplus of income of at least £50 before you pay your debts each month?
Make one single payment over a 5 year period and at the conclusion of the agreement have any remaining debt written off saving you up to 70% of what you currently owe.
Once a licensed insolvency practitioner agrees lower monthly payments with your creditors they become legally bound to honour the agreement and can not pursue you for any further or additional payments.
When your dedicated insolvency practitioner commences your IVA you will only be bound to make one monthly payment- there are no additional fees or charges payable so long as the payment plan is met.
If you’re struggling with personal debt, you’re not alone– statistics show that consumer debt rose in the UK from £1,518.5bn 2012 to £1,630.1bn in 2017, (numbers adjusted for inflation) an astonishing 7.3%.
The fact that wage increases over the same period have capped out at around a paltry .07% means that those who are borrowing just aren’t making enough to keep up.
Statistics show that in the UK, one person is declared bankrupt every 6 minutes and 13 seconds per day– that’s 248 people per day, and properties are repossessed at a staggering rate of 15 per day,
With the average debt load sitting at £8,000 per person, NOT including their mortgage, and the average household spending 3.78% of their income on debt interest, things are tough all over.
57 Spring Gardens, Manchester M2 2BY, UK
Phone: 0161 208 0082
Debt management plans have been utilized by tens of thousands of people over the past 15 years or so who have been struggling to meet repayment demands on debts over £4000.
I feel that my life is under control again.
I really and truly, finally can look at retirement in a positive light.
The support we have received has been enormous.