Individual Voluntary Arrangement (iva)
iVAs Rugby
An IVA must be set up by an insolvency practitioner and this is one of the services that we offer here at Insolvency Rugby. Read on to find out more information about IVAs Rugby.
An Individual Voluntary Arrangement (IVA) is a formal and legally-binding agreement between you and your creditors to pay back your debts over a period of time.
An IVA can be flexible to suit your needs but it can be expensive and there are risks to consider. Most debts can be paid off through an IVA but there are some exceptions.
Debts you can include when you get an IVA you can include:
- Catalogues and Store Cards
- Personal loans
- Overdrafts
- Credit cards
- Gas and electric arrears
- Council Tax arrears
- Water arrears
- Payday loans
- Income tax and national insurance arrears
- Tax credit or benefit overpayments
- Debts to family and friends
- Other outstanding bills, for example solicitor’s costs, invoices for building work and vets bills
- Mortgages, secured loans and rent
Take Control of Your Finances with Insolvency Rugby
Secured loans are debts which are secured against your home. This means if you can’t pay the debt, they can take your home from you. You can include secured loans, mortgage or rent arrears in an IVA. However, your creditor will have to give their permission for it to be included and they are unlikely to do this.
Here at Insolvency Rugby, we can assist you and steer you in the right direction on your way to taking control of your finances. Call us today on 0800 072 3470 and speak to one of our dedicated personal insolvency practitioners or contact us via our online enquiry form and someone will get back to you.
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Free No-Obligation Consultations - Call Insolvency Rugby on 0800 072 3470
We offer a free, no-obligation consultation with one of our dedicated, licensed insolvency practitioners in order to assess your situation and circumstances. Call us now of 0800 072 3470 to book an appointment and take the first steps on the road to financial recovery.
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Whatever your situation, the prospect of facing financial insolvency often brings a great deal of anxiety and distress. You are not alone!
Our dedicated team of licensed, insolvency practitioners is a few clicks away from helping you to take the first steps to financial recovery. Use the Contact Form to get in touch and book a free, no-obligation consultation, or call us on 0800 072 3470.