What is an IVA going to cost?
 
Finding out if an Individual Voluntary Arrangement is going to be the right debt solution for you doesn't cost anything. We'll talk to you about your financial circumstances and help you to decide if an IVA suits someone in your situation. Then, should you feel that an IVA is an appropriate debt solution, we'll get it set up.

Drawing up the IVA proposal that will be put to your creditors and then managing the IVA is a delicate process, requiring the services of a licensed Insolvency Practitioner. The IP is the only person authorised to handle an IVA and will advise you of the costs incurred through a Letter of Engagement. These costs are agreed with your creditors and cover the set up and management of your IVA. The charges are then deducted from your monthly debt repayment though, not in addition to it.

The cost of your IVA is relative. For many people, it's the only realistic alternative to bankruptcy and that could end up costing you a lot more in the long run. Also, as the charges are worked out in agreement with your creditors and the payment taken as part of your monthly debt repayment, you'll not actually notice the charges. Instead, the administrative costs are just built into your outstanding debt.




For more information see:
What is an IVA?  
 
     

 

 
Action Bar

IVA help ForumThe IVA Forum: Top 30 Hot Topics
 
Active Topics on IVA Forum
Refund (by: london_lady)
Anyone else had compensation? (by: SteveUK)
Pension and IVA final settlement (by: Nic68)
<t>Review going to plan</t> (by: Rlh1994)
What happens when my IVA comes to an end? (by: Moses007)
<t>When will the IVA come off of my credit report</t> (by: ryan231)
<t>New car needed</t> (by: anna912)
<t>Equity release issue</t> (by: SillyMark)
Iva and sprout loan (by: katana2471)
<t>Can I get IVA removed from Noddle?</t> (by: beth)
Please help (by: taylor941)
Decision in principle (by: AL28)
<t>Ex Partners IVA affecting my life options</t> (by: martin492)
<t>What is the max amount of cash I can pay into my bank account while in an IVA?</t> (by: paul914)
<t>Will I have to release equity in my IVA?</t> (by: Dinnynat)
Review of I&amp;E after final payment... should this be done twice? (by: Jasmin.75)
true or false (by: Oakley1)
How to find the car insurance when I have an IVA? (by: jhonpaul12)
Can I get a mortgage like a normal person would who didnít have a iva? (by: MrBT96)
<t>Why is legal advice needed?</t> (by: leigh895)
Mortgages (by: dsyork)
<t>Full and final adjourned</t> (by: Phoenix11)
<t>Renting</t> (by: Rachelola23)
Approved travel costs (by: Bethlouise)
Credit card after completion (by: Allywally)
Early settlement/Full and Final (by: JustPlainStupid)
<t>How long does the process take?</t> (by: Clairebear)
Payplan misinformed me what to do (by: warren530)
HMRC wonít let us end our IVA (by: Vicky81)
A couple of years on... (by: TotalMoron)
Forum BrowseForum JoinForum Search

Free Debt Guides
FREE useful guides!