Good IVA advice
An Individual Voluntary Arrangement (IVA) can bring very substantial benefits but it isn't suitable for everyone and it's essential to get the best advice possible, working with an organisation that is professional and independent.
Remember that when you sign up to an IVA, you are making a commitment that will last up to five years. It is important to understand what you're getting into before you start and it is also important to know that the advisor supporting you will be effective.
The right reasons
Some companies try to persuade people to set up an IVA when it is not appropriate because of the fees involved. Other companies offer IVA advice but don't specialise in the area which can cause problems if your case is unusual in any way.
ClearStart is one of the leading UK IVA providers, offering excellent relationships with major lenders, Insolvency Practitioners, and other parts of the IVA industry. ClearStart offers unbiased advice on your debt solution choices. In particular, good IVA advice must take into account the perspectives of both debtor and creditors, because an IVA cannot proceed without the agreement of creditors. IVAs arranged via ClearStart enjoy a very low rejection rate.
Qualified support
Unlike more informal debt solutions, IVA counselling has to be be compliant with appropriate licensing and regulation. The IVA advice, set up and supervision processes and systems must be defined and governed by experienced professionals. Finally, all IVA staff should have recent and relevant experience in providing financial or debt advice.
Choosing the right IVA provider is important, too, if you want timely results. It is possible to approve an IVA in as little as six weeks from application – as little as four weeks if you can provide documents in a timely fashion. This period includes activities such as fact finding, drafting the proposal, sending to creditors and voting. A good IVA advisor does most of the work for you and will ask only for support such as providing evidence and reviewing and signing the documentation.
ClearStart exists to help you understand not only the solution that is appropriate right now but any longer term implications for a financially stable future.
Further Reading:
IVA Help | How an IVA works | IVA Costs | IVA Criteria | IVA Approval Process | How to Start IVA | What Is an IVA?
Three steps to a better future
Prepare
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- Debts on cards and other loans
- What you earn every month
- What you spend every month
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