Liquid Your Company

IVA’s

Individual Voluntary Arrangements The Advantages

IVAs dont suit everybody, but for those who do meet the criteria, the benefits are fantastic:

• You can legally write off up to 75% of your debt.

• You can reduce your monthly repayments by calculating how much you can afford to repay each month & then make just one affordable repayment.

• You can stop all your creditors, debt collection agencies & bailiifs hassling you (your Insolvency practitoner will take care of all this).

• You can avoid Bankruptcy.

Example Scenario:

Tony has 125,000 worth of Debt including 5 credit card debts, 1 personal loan, income tax debts & business debts (with personal guarantees). He also owns his family home which has a current open market value of 200,000 with an outstanding mortgage of 175,000.

Tonys monthly debt repayments (credit cards, personal loans etc) currently amount to 1200 per month but he is currently living off his credit cards to enable him to stay on top of these repayments he is basically robbing Peter to pay Paul.

Tony has been approached by a Company who claim they can write off all his debts for a fee of 1800. Tony has correctly stated that even if they are successful (which is a gamble in itself) he will still have his tax debts & business debts to worry about, so there really is no point (Nice try though, eh)

Tony has a monthly income of 2500 (after allowance for tax) and monthly expenses of 2225 (without the above debt repayments).
Tony has entered into an IVA that protects his family home by selling the equity in the house to his Mother & Father for 15000 (using a realistic immediate sale value, less costs) & paying just 275 per month for 5 years.

Tony has therefore cleared all his 125,000 debts by paying only 31,500 & reduced his monthly debt repayments from 1200 to 275.

Tony is a very happy man

IVA Services
Entering into an IVA can be very daunting, thats why I provide the following services, entirely Free of charge to all my clients:

• Initial Free assessment to ensure an IVA is the right debt solution for you & your circumstances.

• Preparation of your Income & expenditure account.

• Preparation of additional financial statements, including cash flow forecasts, budgets and forecasted Profit & Loss accounts where required.

• Advice on saving your family home in an IVA.

• Attendance at meetings; the IVA meetings themselves can often be quite daunting, if necessary I will attend your IVA meetings with you to advise & assist you through the process.

Call me now on 0800 533 5370 for further details of IVAs & how they can solve your debt problems.