This is a formal arrangement and is set up through the courts. You will need to to be able raise a lump sum of money or make regular repayments from any income you may have

An insolvency practitioner needs to act for you and we work with a respected national company to help you.

An IVA will be proposed for between three and five years. Should the arrangemnet not be kept to then the insovency practitioner or the creditors can apply for a bankruptcy order to be made instead.

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When bankruptcy or an IVA are not suitable you may wish to make an informal arrangement. We write to all your creditors to negotiate a compromise. We work out a timetable to repay your debt to them. You then send us the payment monthly so that we can distribute the funds to your creditors accordingly.

It should be noted that this is not legally binding so creditors could ignore it and ask you to pay in full. By using our services they will understand your efforts to repay them and will usually agree to the terms so long as they are adhered to.

TELEPHONE 08000 273378 NOW FOR FURTHER ADVICE