No more borrowing from friends and family
Not worrying about bills you can’t afford
No longer turning to payday loans
Not worrying about cards being declined at the till
No more paying high charges for being overdrawn
Not worrying about running out of money before your next payday
£470(TOTAL CONTRACTUAL REPAYMENTS)
£115(TOTAL CONTRACTUAL REPAYMENTS)
* monthly payments are based on individual financial circumstances
An Individual Voluntary Arrangement (IVA) is a formal debt solution that creates alegally binding agreement between you and the people you owe money to. You may decide to enter an IVA if you’re struggling to repay the total amount of unsecured debt you currently have but can repay some.
Yes, an IVA will have an impact on your credit rating as it will show on your credit report for six years after it has been approved. However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place.
Once your IVA is complete you will be offered a fresh start to begin rebuilding your credit rating.
In most cases entering an IVA won’t affect employment. However, in certain professions, such as accountants and solicitors, having an IVA may mean that you can no longer practice or you may only be able to practice under certain conditions.
Once you enter an IVA, creditors can take no further action against you and can’tcontact you directly.
An IVA can be a positive way to manage unaffordable unsecured debt and allow you to better manage your monthly finances.
In an IVA a single monthly payment is agreed with your current financial situationtaken into consideration – this payment is then divided between the people you owe money to. During the course of your plan all interest and fees associated with your debts are frozen.
At the end of the IVA the remaining debts are written off and you can begin your debt-free future.
When you’re considering entering an IVA, it’s important to be aware of the following:
We offer free debt advice tailored to your circumstances. We’ll find out more about your current financial situation and your lifestyle to advise on the best solution for you. Although we offer advice on all debt help solutions available, wespecialise in Individual Voluntary Arrangements (IVAs), Trust Deeds and the Debt Arrangement Scheme (DAS).
All of our initial advice is free; however, fees will apply should you decide to enter into an arrangement. These will be discussed by an expert advisor to makesure you are fully aware of the costs involved.
Free to call:
0808 156 3800
Opening hours: Mon - Fri 8am - 7pm
To find out more about managing your money and getting free advice, visit Money Advice Service, independent service set up to help people manage their money.
* A debt write off amount of between 25% and 75% is realistic, however the debt write off amount for each customer differs depending upon their individual financial circumstances and is subject to the approval of their creditors. The example provided of 81% has been achieved by 10% of our customers in the last 12 months.
Address – Avonlea, Demesne, Lucan, Co Dublin
IP Number - 11292
Data Protection – Z2445731
Company number 432293
Mike Sloper is authorised in the UK to act as Insolvency Practitioners by the Insolvency Practitioners Association.