Debt IVA

Money Managers are an IVA company offering many debt solutions. An IVA is a very good way to legally clear your debts in 5 years. There are many powerful advantages to this scheme, but there are also alternatives. At Money Managers we work with you to discover the right solution for you.

An IVA (known as an individual voluntary arrangement) usually lasts 5 years. During this time you pay an agreed amount that you are able to afford and at the end of the 5 year period the entire debt is written off. It is technically possible to write off around 75% of your debt, however this is rare. Beware of any company guaranteeing this on the internet. The amount written off (obviously) depends on your personal circumstances, and if the creditors feel this is the maximum they can retrieve towards the debt.

To be eligible for an IVA you need to:

• Have debts over £15,000
• Be struggling to make the repayments
• Be able to afford £200 a month
• Have 3 creditors or more
• Have less equity in your house than the total debt
• Not be reliant on benefits for all your income

Debt IVA

A Debt IVA will enable you to be debt free in just 60 months. There are many advantages to this including:

• Debt free in 5 years (60 months)
• Only pay what you can afford
• The debt you can't afford gets written off after 5 years
• Creditors are not allowed to contact you
• You won't lose your home
• Not be reliant on benefits for all your income

However there are some serious disadvantages. These are:

• If you fail to make your payments, you could be made bankrupt
• Your IVA will be a matter of public record
• You may have to remortgage your property if there is equity available
• An IVA only covers unsecured debt

IVA debt solution

An IVA debt solution really could be for you. If you're struggling to meet your financial obligations, then please have a good read of all the information on our website. When you're ready, give us a call or fill out our contact form on the right hand side of every page. As a debt management and IVA company, we're sure we can help you to find the right debt solution for you. We're here to help, we understand, and we want to help you find the right solution for you.