Apply online and become debt free - IVA's - Who are they for?
As an IVA is a formal agreement, not everyone qualifies for one and you have to meet some basic criteria.
To qualify for an IVA you must meet one or more of the following criteria:
- You have mounting debts of £10,000 or more
- These debts are unsecured (see below)
- You are currently employed and have a regular income
- You can prove your income when asked
The following unsecured debts fall into the criteria accepted for an IVA:
- Personal Loans
- Credit Cards
- Store Cards
- Overdrafts
- Bank Debts
- Hospital Bills
- Other Medical Bills
- VAT
- Inland Revenue
APPLY ONLINE NOW or CALL 0800 043 3535
Considerations when applying
subject to eligibility and acceptance with fees payable. Telephone calls may be recorded for training purposes..
Debt Write off only applies where an IVA is suitable and on completion, alternative solutions may be offered.
IVA’s have a significant effect on a credit record in the short and medium term. Even after the IVA is completed it may affect your ability to apply for mortgages or other forms of credit, however a proven track record of payments into an IVA is looked on favourably by some lenders.
Homeowners may also be required to release equity in their property in the 4th year of the IVA.
