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FREQUENTLY ASKED QUESTIONS

How Do I Choose An IVA Plan?

If you are unsure about what plan is right for you, contact us... you need to make the first step to contact us so we can provide assistance. We will help you through this tough financial time. If you have been doing your research, then you will know that there are other financial advisors; 'IVA for you', however, is unique.

What's The Next Step?

Firstly, fill out our 'IVA for you' form. This form will provide our team of debt management team experts with all of the required information they will need to map out the best debt management plan possible for your personal circumstances.

We are here to help you find a better solution. Struggling with debt can take its toll and the sooner you find a way out, the better. The process may seem long, but we will help you come out the end of it by determining a solution which is affordable. At 'IVA for you', we will reduce the amount you are paying to creditors each month and will eventually write off unaffordable debt.

Do I Have To Tell My Employer About My IVA?

The simple answer is no. You do not need to inform your place of work that you have a IVA plan. We keep everything about your account completely confidential. When you are discussing your debt management agreement, your details will be kept safe between you and your advisor/trustee.

Some cases are different and it may be in your contract for you to inform your employer of this. This is different for every client; therefore, we advise that you check your contract of employment before you have signed any paperwork.

This is usually dependent on your job role or sector as working with a debt solution company may be breaching your contract.

what makes us different?
  • Our team will only offer you transparent, honest financial advice.
  • We will only act on your request. We will always do what we think is in the best interest of our clients.
  • The process is quick and our trusted debt providers will keep you in the loop throughout the whole process.
  • We mean it when we say that every single one of our clients will be treated with the utmost respect and care.
  • We will be clear with you and identify any loopholes and opportunities that you may not be aware of.
  • Our team has been handling financial problems for a number of years, which means we are extremely capable of dealing with your problem.
  • We will help you with all of that scary paperwork which you have hidden around the house. Step by step we will get through those applications reclaims and debt collection letters. The sooner we do, the quicker you can get on with your new life.
Will My Creditors Still Contact Me?

The purpose of an IVA is to remove the burden of debt from you, therefore, your Trustee will handle your creditors. The stress of telephone calls and letters to your home will be removed from your life, meaning you can move on with your debt-free plan.

This make take a period of time, however, as soon as your IVA is protected, the calls and letters from your creditors should stop.  Remember on the unlikely case that any off your creditors do continue to contact you, refer them to your Trustee who will manage your account on your behalf.

Will I Still Have To Deal With My Creditors?

With 'IVA for you', there will no longer be a need for you to deal with your creditors. The letters and phone calls will stop, as we will be managing your account.

As soon as you start making your affordable monthly payments, we will take the rest from then and will distribute the payments to your creditors – meaning you don’t have to.

Once you have entered into a IVA, if any creditors do contact you directly you simply refer them to your debt provider. Literally zero hassle for you, no letter writing, no calls.

Is The First Consultation Free?

Of course, with 'IVA for you', your initial consultation will always be free. We want to make you feel as comfortable as possible during this stressful time. You will be matched with a professional company who is authorised and regulated to provide debt advice. Out trusted providers are used to dealing with people in your situation, we and they understand the stress your debt issues may have caused you and those dear to you.

How Long Does It Take To Set Up An IVA?

This process is extremely easy and once it has been approved your IVA can be set up immediately. Before the IVA is approved you may need to supply your creditor with the appropriate files and information.

What does it cost?

In most cases, you will not be charged if your Trust Deed proposal is rejected by your creditors, however you should always check this before going ahead.

If your case has been approved then your Trustee’s fees are paid monthly. This fee will be included in your contribution payment. The rest of this balance is paid to your creditors.

How Does An IVA Become Protected?

As soon as your IVA has been approved, your Trustee will place a notice in the Register of Insolvencies by the accountant in bankruptcy.  You will find that your creditors have five weeks after this to either accept or object to the IVA.

Your IVA is protected unless your Trustee receives written objections, that are not in a majority number or are less than 1/3 in value of your debts.

When your IVA is protected, it is then recorded in the Register of Insolvencies. Once this has happened no creditors are allowed to contact your directly or take any further action against you.

What Happens If The Creditor's Object And my IVA Fails To Become Protected?

In the unlikely case of this, a debt advisor should talk you through the other options that are available to you.