IVAs

An IVA could be the solution to your debt problems

If you have unsecured debts over £15,000 and are struggling to pay your monthly payments, an IVA could be for you.

An IVA is a legally binding agreement between you and your creditors, whereby you pay an affordable monthly amount for the duration of the term of the IVA, usually 5 years, leaving you debt free.

Our expert team will assess your suitability for an IVA and together with our own in house insolvency practitioner who will supervise your IVA, as required by law, we will draft your proposal and liaise with your creditors on your behalf.

• Interest and charges are legally frozen
• You make one affordable monthly payment
• At the end of the IVA, any unpaid debt is written off
• You will be debt free on completion of the IVA (usually 5 years)
• You don’t lose control of your assets
• You can continue to run any business you have
• It does not get published in the newspapers, but it is entered on a public register
• In the 5th year of your IVA if you have any equity in your property, you may have to release it to pay a share to your creditors
• Reasonable allowances will be made for your monthly expenditure, subject to guidelines
• Your proposed IVA needs to be accepted by 75% in value of the creditors who vote, any other opposing creditors will still be bound by its terms.
• The IVA is a legally binding agreement. Failure of your IVA may result in bankruptcy

Call Byrom&Keeley TODAY and let us help you:
New enquiries: FREEPHONE - 0800 298 2988
Existing customers: FREEPHONE - 0800 848 8484
Creditor line: FREEPHONE - 08000 435437