Debt Relief Order
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An IVA (Individual Voluntary Arrangement) is a debt solution which could allow you to write off considerable sums while just paying back what you can afford. As for how much debt you can write off, this figure differs depending on your circumstances. Still, on average, we manage around £13,500.
To see how much you could write off, just enter in the total value of your debts below. We’ll do a simple calculation and give you an approximate answer. It’s simple, it’s fast, and based on how much we’ve already written off for our clients:
Total Debt Payable
Debt Write Off
It’s all very well seeing this on your screen, but if you want to make it a reality get in touch today. You never know, we might be able to write off even more than the amount above.
We’ve detailed just about everything you’d want to know on our page; What is an IVA. However, if you want the short version, this arrangement is a financial solution which can be very effective in resolving considerable debts.
A generally preferred alternative to bankruptcy, it’s an agreement between you and your creditors to repay what you can through affordable monthly payments. During this time, interest rates and charges are frozen which help make your debts much more manageable. When the IVA ends, any remaining funds you still owe your creditors are written off.
This debt solution isn’t available to everyone and those interested should meet the following IVA qualifying criteria:
Whether or not you meet the qualifying terms for an IVA, there are a variety of things to consider. Although one of the main advantages of an IVA is typically its ability to write off debt, there may be other debt solutions available. They are all different and one might be better suited to your circumstances. To find out more information, get in touch with us today.
We’d be happy to discuss your circumstances and identify the best solution for your needs.
Debt write off applies to unsecured debts and on completion of an IVA. A debt write off amount of between 20% and 80% is realistic, however the debt write off amount for each customer differs depending upon their individual financial circumstances and is subject to the approval of their creditors.
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