How to apply for IVA?

What is the procedure for applying for an IVA?

An IVA is a debt solution that allows you to repay a portion of your debt to your creditors through a legally binding arrangement. If an IVA is right for you, you’ll want to know how to get one and what the procedure entails. If you’re considering an IVA as a debt solution, you should seek professional counsel first to ensure that it’s right for you as they will guide you how to apply for an IVA correctly. An IVA has both advantages and disadvantages, which you should be aware of before deciding whether or not to engage into one.

The hardest part about setting up an IVA is to have the courage to decide and know how to apply for an IVA or were to apply. If you want to do something about your debts, then contact us for help. Wanna know the procedure of getting an IVA. We’ve made the IVA application process as simple as possible for you. Simply follow the three steps outlined below:

After that, one of our insolvency counselors will contact you at a mutually convenient time to discuss your debts and financial status. This will take about 20-30 minutes.

Once we’ve done that, we’ll either confirm that an IVA is appropriate or suggest other options.

This service is completely free and private. It’s just a casual conversation to see if we can assist.

We’ll then send you a copy of your proposal to read, sign, and confirm that you’re okay with it.

Your IVA will then be set up, and you will only have one monthly payment to make. The interest on your debts is now legally frozen, and you are no longer vulnerable to creditors.

How does an IVA work?

You make 60 or 72 monthly payments to your total debt under an IVA, or you give a lump sum settlement.Your finances will be evaluated annually as part of the IVA, and you and your creditors will receive a progress report. You’ll also be alerted when the IVA is finished. This is How IVA work.

How can I get an IVA approved?

75 percent of your creditors must vote in favour of your proposal in order for it to be accepted. You’ll be safe from legal action to recover the debts after it’s been approved.

Do you want to apply for an IVA? First, get free debt advice.

The first thing to consider is to know that weather you are eligible for IVA or not? if yes then you should use our online debt guidance tool before thinking about filing for an IVA. This will provide you with unbiased and customized advice on whether an IVA is the best solution for you. Call our debt advisors  if you’d prefer to speak with one of our specialist consultants.

What am I supposed to do now?

I hope by now you must have understand how to apply for IVA or were to apply for it. This question further may arise how and why IVA is the good option to choose if you are looking to settle your debt effectively and easily. Here at IVAOnline we try to resolve all your IVA related Issues and guarantee you to make your financial journey much easier than previous. 

What is IVA advice

Get your IVA advice today!

We’re here to assist you. Debt counsel is now available for free online. If you seeks any kind of the IVA related help or advice contact us.