IVA Approval
First complete a short enquiry form so that a Insolvency Practitioner can review your application and let you know if you meet the qualifying criteria for an IVA. After this you will find out if you are eligable and decide if you wish to make an IVA application.
Next, the Insolvency Practitioner will contact all of your creditors to inform them that they are now acting on your behalf as your legal representative. The Insolvency Practitioner will also seek an Interim Order to give you full protection from your creditors during the IVA process. This prevents any of your creditors from starting bankruptcy proceedings, and gives you back your peace of mind.
The Insolvency Practitioner will create an IVA proposal which will detail the terms of the IVA, how much you intend to repay and the timescale over which your payments will be made.
Your IVA proposal will be given to your creditors who are asked to vote on whether to accept it.
If the IVA gets approval then you start making your payments. As long as you continue to make your payments, you’ll be on course to being completely debt free.
For FREE IVA Advice
From our expert advisers please
complete the form below:
complete the form below:
Free IVA Assessment No Upfront Fees Upto 75% of your debt written off Monthly Payments to suit your income Debt free in 60 months
