An IVA is a form
of debt management plan set up by the government to eliminate personal
debt and to deal generally with the growing issue of individual insolvency.
The needs of one household may be very different from the needs of another.
Any debt consolidation quote given must thus take into account the uniqueness
of the situation people find themselves in.
A normal IVA will
be set to run for sixty months and after this has finished all the debts
are cleared from a person's credit profile.
An IVA will write
off the larger part of a person's debt at the beginning of the plan
(although beware of the exaggerated claims made in some advertising:
it is seldom much more than 60 or 65% of unsecured debt which can be
cancelled in this way). Any good debt consolidation quote and advice
of this nature will make sure that you get the best results with the
lowest monthly repayment options together with the greatest
percentage of debt written off at the outset.
So 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.
attempt to do their best to rescue people who are suffering from debt
in one way or another. There are initiatives like The various individual
and corporate voluntary arrangements to expedite the methods of both
personal and corporate debt and to soothe what is always a difficult
procedure, and a debt consolidation quote is part of the solution. The
object tends to be towards protecting assets where possible and also
in safeguarding the rights of individuals by using legal measures. This
applies to both private wealth and also the assets of businesses.
A number of disciplines
have evolved related to failure, and these include the legal profession
as well as more recent professions like IP consultants. All such experts
have their own strengths. Each one will have a different area of expertise
which you should benefit from to your best advantage. Making use of
a debt consolidation quote will ensure the turnaround from insolvency
is quicker and easier.
Our economy is
a very complex entity. Economic experts and specialists of many types
try to figure out how the whole thing functions on a daily basis. It
has been compared to a vast computer. Inevitably economics impinges
on political and social imperatives and these are usually governed by
the kind of society that we live in. This community at present is aligned
towards successful endeavours ensuring generally means exposure to risk.
As long as we live with this insidious aspect of peril we also have
to live with the ghastly prospect of debt, both individual and corporate.
Using debt consolidation is meant to offset this risk somewhat.
A debt consolidation
quote - for example, an IVA - will be typically prepared by a specialist
insolvency practitioner and shall be made specifically to match the
specific requirements. There is no average approach to such things because
every state of affairs is different, and some differ considerably. The
insolvency practitioner will now prepare the most advantageous blueprint
in accordance with the applicant's own particular circumstances and
then set up a plan of payments to creditors which is typically 5 years,
though in some situations this may differ.
a look at the Insolvency Service's leaflet called 'In Debt', downloadable
website is property of Debt Consolidation Quote. Copyright 2002 -Thereafter.
All rights reserved.