If you have substantial debts you’re struggling to repay, an individual voluntary agreement (IVA) can be a suitable solution. An IVA debt solution can provide much-needed relief when it feels like there’s no way out and the amount you owe keeps increasing. With IVA debt help, you can freeze the interest on your debts, make affordable repayments and have any unsecured debt left at the end of the IVA debt period written off.
IVA debt help is legally binding and must be set up by a qualified Insolvency Practitioner (IP). Many companies offer IVA debt management, and finding the best one for you is vital. The best debt IVA practitioner or company works for your specific circumstances, provides invaluable advice and sets up and manages your IVA debt write-off. They can help compare options like a debt relief order vs IVA, understand what is an IVA debt or what debt movement IVA is, differentiate a debt management plan vs IVA and answer questions like can I change from IVA to debt management or what is IVA debt. This guide presents some of the best platforms to connect to top IVA debt practitioners authorised to provide IVA debt solutions.
Find the Best IVA Debt Practitioners 2023 – Editor’s Picks
- 123 Debt Fix: Overall Best Platform to Get Access to IVA Debt Help Professionals Assisting with Debts Over £5000
- Viva Debt Help: Best Place to Request Contact from an FCA-Approved Debt IVA Advisor and Provider
- Debt Nurse: Best Place to Apply for Third-Party Assistance from Reputable IVA Debt Write Off Specialists
- Help My Debts Pro: Best Platform to Request Information on a Debt Relief Order vs IVA by Being Connected with Third-Party Debt Solution Providers
Best Platforms to Be Connected with IVA Debt Solution Providers in the UK (2023)
123 Debt Fix: Overall Best Platform to Get Access to IVA Debt Help Professionals Assisting with Debts Over £5000
123 Debt Fix takes the guesswork out of finding a legitimate IVA debt help professional. With so many options out there, you can easily fall into predatory hands. 123 Debt Fix ranks as the overall best platform to get access to IVA debt help professionals assisting with debts over £5000.
Although it doesn’t offer debt advice, the platform offers a quick application process that connects you to authorised IVA debt help providers. Simply complete an online form and allow 123 Debt Fix to pass your details to a regulated debt advice solutions provider. You’ll get prompt feedback and will not be obligated to proceed with the recommended provider.
Highlights of Free IVA Debt Management Help
- Fast application process
- Prompt feedback
- Access legitimate IVA debt professional
- Get IVA debt help online
- Zero obligation
Pros of Free IVA Debt Management Help
- Freeze interest rates and charges
- Make affordable payments
- Keep creditors off your back
Cons of Free IVA Debt Management Help
- Some creditors may not agree.
Click Here To Request IVA Debt Management Services UK Today! >>
Viva Debt Help: Best Place to Request Contact from an FCA-Approved Debt IVA Advisor and Provider
Viva Debt Help makes connecting with some of the best debt solutions providers in the UK easier than ever. It’s one of the best places to request contact from an FCA-approved debt IVA advisor and provider, thanks to its hassle-free online process. You only need to complete a no-obligation form with information on your debts, and you’ll receive a call from a regulated debt IVA advisor and provider.
Although Viva Debt Help doesn’t offer debt advice, it’s a reliable platform for accessing a legitimate provider who can help find a suitable solution for your debts. The process is confidential, and Viva Debt Help only shares your details with a suitable provider with your consent.
Highlights of a Debt IVA
- Hassle-free online process
- Confidential
- High professionalism
- Reliable
- Quick response
Pros of a Debt IVA via Viva Debt Help
- Protection from legal action
- Relief from creditor harassment
- Write off a portion of your debt
Cons of a Debt IVA
- It can affect your credit rating.
Click Here To Request IVA Debt Management Services UK Today! >>
Debt Nurse: Best Place to Apply for Third-Party Assistance from Reputable IVA Debt Write Off Specialists
Debt Nurse has extensive experience connecting overindebted Britons with authorised debt solutions providers. The platform is user-friendly and one of the best places to apply for third-party assistance from reputable IVA debt write-off specialists. Dealing with your debt is hard enough, and the last thing you need is to jump through hoops to access an authorised IVA debt write-off practitioner.
Debt Nurse makes the process smooth and accessible to everyone, and it doesn’t offer debt advice or pressure you into choosing specific specialists. It only makes accessing third-party assistance from its extensive panel of reputable IVA debt write-off partners easy when you need help with your debts.
Highlights of Receiving Assistance from IVA Debt Write Off Specialists
- Extensive experience
- User-friendly platform
- Smooth process
- Impartial
- Zero pressure
Pros of an IVA Debt Write Off
- Write off unsecured debts you can’t afford
- Better than bankruptcy
- It gives you peace of mind
Cons of an IVA Debt Write Off
- Not suitable for all debts
Click Here To Request IVA Debt Management Services UK Today! >>
Help My Debts Pro: Best Platform to Request Information on a Debt Relief Order vs IVA by Being Connected with Third-Party Debt Solution Providers
When unsure which debt solution is right for you, you need clear, unbiased information from a qualified provider. Help My Debts Pro simplifies requesting information on a debt relief order vs IVA by connecting you with third-party debt solution providers. The platform has plenty of positive reviews from previous customers praising its fast responses, confidentiality and professionalism.
You can apply in minutes and get connected to an accredited third-party debt solution provider who can answer all your inquiries when deciding between a debt relief order vs IVA or other debt solutions. Help My Debts Pro doesn’t offer debt advice but partners with qualified providers who can steer you in the right direction when you need a debt solution.
Highlights of Advice on a Debt Relief Order vs IVA
- Simplified process
- High customer satisfaction
- Fast responses
- Professional
- Confidential
Pros of Advice on Debt Relief Order vs IVA from Debt Solution Providers
- It helps you find the best solution for your debts
- It helps you get rid of threatening calls from creditors
- It provides a clear date for when you’ll become debt-free
Cons of Debt Relief Order vs IVA
- It can make it difficult to obtain credit
Click Here To Request IVA Debt Management Services UK Today! >>
What is an IVA Debt Provider? How Did We Select the Best IVA Debt Providers?
An IVA debt provider makes it easier and faster to access qualified IVA debt solutions specialists who can help you manage your debts. We considered the following factors when selecting the best IVA debt providers:
- Fast online processes
- Only qualified and regulated providers included
- No-obligation applications
- High privacy and security
Choose from the Following Types of Debt Movement IVA Options
There are different kinds of debt movement IVA options to choose from. These include:
The Option of a Debt Movement IVA Payment Break
When your circumstances change, and you can’t afford IVA payments or are facing a stressful situation, you can choose a debt management IVA payment break. It can give you a reprieve for a few months until you get on your feet again.
Extended IVA or Debt Management Plan (up to 6 Years)
You can get an extended IVA or debt management plan to get enough time to pay any scheduled payments fully. A common reason for an extended IVA or debt management plan is missed monthly payments
Third-Party Contribution Debt Management Plan or IVA
A third-party contribution debt management plan or IVA involves a relative, partner or friend helping you make repayments. It’s a suitable solution when you have a high debt level and can’t afford monthly payments but wish to avoid bankruptcy.
Short-Term IVA Debt Relief Plan With Lump Sum
If you’re expecting a large sum of money or windfall, you can choose a short-term IVA debt relief plan with lump sum. It involves making monthly payments for a short period and then offering a lump sum.
What Are IVA Debt Plans and How Do They Work?
IVA debt plans are formal, legally binding agreements with creditors to pay all or part of your debts. It allows you to make affordable payments towards your debts over an agreed period, usually five or six years. The interest and charges are frozen during this time, and any outstanding unsecured debt gets written off after successful completion.
A qualified insolvency practitioner sets up the IVA debt plan. You must provide details of your financial situation, including your debts, assets, income and creditors, to allow the insolvency practitioner to determine how much you can reasonably afford to repay your creditors. They’ll then contact your creditors, and if at least 75% of them agree, the IVA will start. You’ll make an affordable monthly payment, and the insolvency practitioner will divide it among your creditors.
What is an IVA Debt Management Plan Pros and Cons, and Features & Factors?
IVA debt management plan pros and cons and features and factors include:
Research IVA Debt Reviews for Peace of Mind
The IVA will legally bind creditors once they agree, so they can’t harass you with phone calls requesting payment or take any action against you, like taking you to court or forcing you into bankruptcy. You’ll also not be required to sell valuable assets like your home or car to repay the debts.
Access to a Debt Movement IVA Portal Offered by Some Providers
Some of the best providers offer access to a debt movement IVA portal that makes it easy and convenient to access qualified IVA practitioners who can set up and manage an IVA for your debts.
Get Obligation Free IVA Debt Advice: What’s an IVA Debt Plan?
With obligation-free IVA debt advice, you get impartial information about all your options and will not be pressured to proceed with any provider or choose a particular debt solution.
Access to Leading Third-Party Providers of Debt Consolidation IVA Plans
With access to leading third-party providers of debt consolidation IVA plans, you can be confident that you’re dealing with legitimate debt solutions providers who are regulated and authorised to offer debt counselling and solutions.
Is a Debt Management Plan an IVA? And What Do IVAs and Debt Management Plans Cover?
A debt management plan is an informal agreement, while an IVA is a formal and legally binding agreement. Debt management plans last longer than IVAs because they involve paying off all your debt, and unlike IVAs, lenders can still contact you for payments and pursue legal against you. IVAs and debt management plans usually cover unsecured debts.
Expected Costs of a Debt Help IVA
You can expect various costs and fees no matter who sets up your IVA. These can include nominal fees to cover professional costs like arranging your IVA and meeting with creditors and supervisor fees to cover the administration work involved in running your IVA. They can also include set-up fees and handling fees each time you make a payment.
How to Apply for Debt Management IVA Options in the UK
You can apply for debt management plan IVA options in the UK through 123 Debt Fix using the following steps:
Step 1: To Get Advice on the Best IVA Debt Relief Order from Third-Party Debt Solution Providers, Complete the Simple Form
Complete the online no-obligation form with information on your debts. It’s easy to follow, secure and confidential.
Step 2: Receive a Call from a Qualified FCA-Approved IVA Debt Management Advisor
123 Debt Fix will connect you with a qualified FCA-approved debt advisor who will contact you to discuss your situation and guide you through available processes.
Step 3: Determine the Best Solution for Reducing Your Debts
The advisor will provide information and advice on all the options available to you. They’ll help you choose a suitable solution based on your income, budget and outgoings.
FAQ’s
What is an IVA and What Can I Expect?
IVA debt refers to the debts you can include in your IVA. There’s no limit on the number of debts you can include in your IVA, but certain debts cannot be included. Your insolvency practitioner will inform you of the debts you can include, so it’s important to be truthful about all your debts and creditors.
How Much Debt Must an Individual Be in for an IVA?
Most regulated providers will require that you have at least £5000 of debt from at least two creditors to qualify for an IVA. Other debt solution options may be more suitable if you owe less than £5000.
What Happens If I Fail to Make IVA Debt Payments?
Your IVA can fail if you fail to keep up with payments. Creditors can apply charges and interest again and pursue you to recover the debts. When you can’t pay, contact your insolvency practitioner immediately. IVAs are flexible, and they can work with you to find a suitable solution.
Is it Possible to Switch From IVAs to Debt Management Plans?
Yes. However, you must convince your insolvency practitioner and creditors to allow you to shift because the IVA is a legally binding agreement. A good reason can involve wanting to pay more towards your debts due to a recent increase in your income. A debt management plan offers more leeway for paying off your debts quickly but doesn’t feature the same protections as an IVA.
Will an IVA Debt Management Plan Show on My Credit History?
An IVA will remain on your credit file for six years after approval.
Conclusion
An IVA debt solution can be suitable if you owe substantial unsecured debts to multiple creditors and are struggling to keep up with current repayments. You can access some of the best IVA debt solutions by applying through 123 Debt Fix. You’ll get a fast and easy online process that connects you to authorised IVA debt help providers who can offer invaluable advice and set up and manage the IVA for you. Find out more information today by applying at 123 Debt Help!
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Disclaimer: All debt solutions should be very carefully considered. The websites advertised in this paid promotion do not provide debt advice. If you complete the form and provide permission to be referred, they will pass your details onto a regulated debt advice solution provider. All the partners they use are regulated by the Financial Conduct Authority to provide debt counselling. The websites advertised work exclusively with trusted debt solution providers. If you proceed with one of their solution options, they may receive a fee for introducing you to them. The websites advertised are lead generation companies who pass your details onto third parties in order to help you with your debt solution.