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Ashley Park: IVA

Ashley Park are experts at helping people escape their debt, one of the way's we help our clients is through an IVA.

An IVA is an Individual Voluntary Arrangement. It is a formal agreement between you and your creditors. When you set-up an IVA you agree to make reduced payments towards the unsecured debt you owe (normally over a 5 year period). Once the IVA is in place, interest and charges are stopped and creditors cannot contact you to chase your debt. On completion of the IVA any outstanding unsecured debt maybe written off at the end of the IVA and those not included will remain outstanding.

An IVA is a practical alternative to bankruptcy which has benefits for both you and your creditor. As a bankruptcy petition can be quite expensive to organise by the creditor, in most cases they will accept the IVA proposal. This is because unless you have significant assets which can be released by a bankruptcy petition, the creditor often has little to gain from the procedure.

All IVA's are referred to Price Sterling, who are also part of the Norton Finance Group.

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Considerations when applying

subject to eligibility and acceptance with fees payable. Telephone calls may be recorded for training purposes.

Repaying debt over a longer period may increase the total amount to be repaid. Your ability to obtain credit will be affected in the short, medium and possibly long term.

Reduce your debts With an IVA

If you have over £4,500 in unsecured debts that you are struggling to repay, then an IVA could help you write off some of that debt*. Find out about IVAs now and costs.

Debt Management

Make your monthly repayments more affordable. Debt management plans can help you pay off your debts without going bankrupt. Find out more about DMPs now and costs.

Facing repossession? Let us help

Are you facing repossession? Already been to court and due to be evicted? We can help. Get repossession help.

Settlement Services

If you have a lump sum of money and unsecured debt you can use our settlement service to help save you money. If we don't manage to save you anything, then the service is free! Click here for details.