IVA
What is an IVA?
IIVA stands for Individual Voluntary Arrangement.
An IVA is normally a 5year legally binding agreement made between the client and their unsecured creditors, with the assistance of an Insolvency Practitioner.
An IVA is designed to offer the creditors at least a certain percentage of their money back over a structured period of time.
In certain cases an IVA can be proposed on the basis of offering a lump sum payment in full and final settlement. This is normally known as a Full and final IVA. This type of IVA is usually a short term one and is sometimes used when the proceeds of the sale of a house are being used to make the full and final offer.
As the IVA is legally binding on both the client and the creditors, no interest and charges can be levied, providing the client maintains the payments as agreed within the IVA proposal. In most cases the creditors are seeking to get back at least 25% of their monies, though there are some creditors who insist on higher dividends of 40% or more.
In the IVA, 75% in value of the creditors that vote must vote in favour of the arrangement for it to be approved. They vote at a Creditors Meeting.
IVA Menu
- IVA (Individual Voluntary Arrangement) Overview
- Starting an IVA
- IVA Monthly Payment
- IVA Pros and Cons
- IVA FAQs - Frequently Asked Questions
- Starting an IVA
- The IVA procedure
- What is an IVA?
- IVA Enquiry Form
- How to start an IVA
- Who can an IVA help?
- IVA's - Facts & how they work
- Benefits and Advantages of an IVA
- Who can an IVA help?
- IVA - Help and information
- How an IVA works
- IVA - Estimated timescale
- The IVA approval process
- The IVA criteria
- Bankruptcy or IVA
- IVA - What are the costs involved?
- IVA - The documentation required
- IVA - Download forms
- Sample IVA proposals for PAYE worker
- IVA - Guide to creditors Fees
- IVA - Standard Terms & Conditions
- Individual Insolvency Register
- IVA
- IVA lifestyle
- Debt free after an IVA
- Is my home protected in an IVA?
- Chances of IVA rejection
- Keeping my car
- Credit rating after an IVA
- Credit report and the IVA
- Professional accreditation in an IVA
- IVA conclusion
- IVAs and meetings
- Change in circumstances whilst in an IVA
- IVA benefits for creditors
- Failed IVA payments
- IVA Case Studies
- Benefits of an IVA
- Implications of an IVA
- After an IVA - the end of an IVA
- IVA Help
- Best Debt Solution
- Proposed changes to individual voluntary arrangements (IVAs)
- What happens after an IVA fails?
- IVA Guide Centre
IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
[more...]
DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]