GW Debt Solutions
We’ve teamed up with GW Debt Solutions, one of the UK’s top financial solutions companies.
Here’s why we believe they are the best:
GW Debt Solutions are experts in IVA's. Whether you need help with overburdening debt, or even Bankruptcy issues, talk to one of their financial experts today. They offer practical, impartial advice which best suits your needs, and don’t forget – their advice is totally free!
- No upfront fees on all IVA's
- Reduce debts with one lower monthly payment
- Potentially write off up to 75% of your debt
- We'll take care of everything
- Never have to deal with your creditors again
- No-obligation phone consultation with an expert
Here’s how they can help you with an IVA:
An Individual Voluntary Arrangement is a formal and legally binding agreement between you and your creditors. It provides both parties with certain legal protections whilst you solve your debt problems.
Once the agreement is in place your creditors must stop all further interest and charges on your debts. All letters and phone calls from your creditors in relation to your debts should then cease. Once the 60 months have ended, and you have kept to the arrangement any outstanding debt included in the IVA is written off.
What are the minimum criteria for an IVA?
- Two or more creditors
- Struggling with payments
- More than £6,000 of unsecured debt
- UK citizen (IVA specific for England and Wales)
Frequently asked questions about IVAs:Will the IVA prevent my creditors taking further recovery action?
Yes. Once the IVA is in place, you are protected from all further recovery action by your unsecured creditors providing you agree to the terms of the arrangement.Can I enter an IVA if I already have CCJs against me?
Yes. Entering into an IVA even offers you a way by which you can avoid further recovery action after a creditor has obtained a CCJ against you.Will I be credit checked before acceptance?
No. Since you will not be borrowing any money, there will be no need for a credit search.Do I have to be in full-time employment?
No. To enter into an IVA, you only need to have a surplus of income above what you need to live on.Does it make a difference if I am a homeowner or tenant?
No. It makes no difference whether you are a tenant or homeowner or even if you are still living with your parents.Can I cancel the IVA once it is set up?
No. An IVA is a legal process and, once it is set up, you cannot just cancel it if you change your mind.How are the Insolvency Practitioner’s fees collected?
The Insolvency Practitioners fees are collected from the payments you make into the IVA and will be notified of the fees that apply in advance.How long does it take to set up an IVA?
This can vary but providing everything is standard, it takes typically between 6 and 8 weeks to set up an IVA.How long will the IVA last?
This can vary, but it usually lasts for up to 5 years.How much does an IVA cost?
All the costs associated with your IVA are included in the payments you make in to it. You will be informed separately by a Letter of Engagement from the Insolvency Practitioner of the proposed fees before you have to commit to an IVA.