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
When can an IVA fail? (by: JustPlainStupid)
Full and Final Settlement (by: MikeyM)
<t>Advice on rent options</t> (by: joe153)
<t>IVA off credit file</t> (by: NTFC1987t)
<t>Creditor who didn't vote?</t> (by: disneygal)
cash gift (by: Doozer)
<t>Tips in improving credit score</t> (by: gemma685)
<t>RX1 and terminated IVA</t> (by: martin737)
<t>Question for Ryan</t> (by: Lazarus)
<t>In breach of an iva</t> (by: nicoleta)
<t>Acceptable F&amp;F?</t> (by: Bmarie)
thats all Folks (by: Oakley1)
<t>What personal information does an IP have access to?</t> (by: Nat77)
<t>Can the same insolvency practitioner continue ...</t> (by: johnny697)
<t>Starting a small business</t> (by: nat355)
Someone in my family wants me to go to school (by: Lauren1995)
<t>Redundancy</t> (by: Middo12)
Just over one year left (by: Middo12)
Advice on F&amp;F (by: Luke13)
<t>Property sale and RX1 form</t> (by: emma967)
Credit Card Debt Charges (by: debtrelief)
<t>Can I get my savings</t> (by: craig267)
<t>Care worker overtime</t> (by: lauren711)
Creditors who have bought debts right to add interest (by: nigel710)
split with partner (by: kyle197)
<t>Debt in IVA completed?</t> (by: mitch109)
<t>Default or missed payments</t> (by: Lady Maria)
<t>Payslip issue</t> (by: mandy142)
Full and Final offer (by: charlierothwell)
<t>Increase in disposable income</t> (by: lauren711)
Forum BrowseForum JoinForum Search

Free Debt Guides
FREE useful guides!