| New Articles |
Insolvency IVA
Free IVA Help
What happens after an IVA
IVA Company
IVA Debt
Adverse
Credit IVA
Bankrupty
IVA
Facts
About IVA
IVA
Querstions |
| Advantage 1 of IVAs |
| Advantage 1 of IVAs |
|
An IVA provides
protection to an insolvent Debtor
All the unsecured
creditors who are party to an Individual Voluntary Arrangement
(IVA) are bound by the terms and conditions of the insolvency
contract. Since the views of only the voting creditors are
followed, an unhappy creditor cannot take any legal action or
other enforcement to recover a debt but can submit a claim to
the IVA supervisor and get the dues as per the conditions
specified in the IVA contract.
|
| Advantage 2 Of IVAs |
An IVA is less
expensive to undertake
Another advantage of an IVA is that it is significantly
less expensive in comparison to a bankruptcy because the
Insolvency Practitioner is not required to deposit funds in
the Insolvency Services Account as in the case of bankruptcy
proceedings against the insolvent debtor. In case of a
bankruptcy, the funds deposited in the Insolvency Services
Account attract levies and an ad valorem charge of 17% on all
deposits made after the initial £2,000.
© Copyright 2007
www. Free IVA Debt Advice .co.uk ~ All Rights Reserved.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
www.NeedingAdvice.co.uk is an Appointed Representative of Personal Touch Financial Services Limited which is authorised and regulated by the Financial Services Authority. Partners - Damian Youell and Lisa Youell
The FSA do not regulate some buy to let mortgages..
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
www.NeedingAdvice.co.uk is authorised by Personal Touch Financial Services Limited to give advice on Mortgages and Insurance. Any pension or investment business is introduced to a suitably qualified partner company.
We sometimes provide referrals to and links to other World Wide Web sites from our site. Such a link should not be seen as an endorsement, approval or agreement with any information or resources offered at sites you can access through our site. Other sites may not be regulated.
|
|
|
|
 |
Terms of Use
|
| We
try our best to make sure that the information which we
provide you is accurate. But, we are NOT LIABLE for any
losses or damages which may occur through your use of
any information or products which you obtain through
this website or any of our affiliated websites. As in
all matters related to your well being, you should
consult with your attorney or accountant before making
any decision which could adversely impact you.
We are
interested in your opinion about the site and its
usefulness. Please email damian at youell dot me.uk with
any questions, comments or suggestions (or even
complaints). We look forward to getting your feedback.
|
|
|
|
|
| Links |
- IVA
Debt Index
- Terms
of Use
- Privacy
- Add
Url
- Site
Map
|
| Advantage 3 of IVA |
No Stigma attached
with an IVA
An Individual Voluntary Arrangement (IVA) is a personal
agreement between a debtor and the creditors. A Bankruptcy, on
the other hand, is publicly advertised in a local newspaper
and the London Gazette. In this way, an IVA does not carry the
stigma associated with a bankruptcy. |
| Advantage 4 of IVA |
No dearth of future
credit
Unlike a Bankruptcy, the advantage of an IVA is that it does
not compulsorily restrict a debtor from obtaining any future
credit. A bankruptcy debars an individual form having access
to credit for a specified period of time. This provision makes
the bankruptcy proceeding all the more painful because the
credit history of the debtor is blemished forever. However,
there are no such issues in case of an Individual Voluntary
Arrangement. A debtor can get credit without any restrictions
even after signing an IVA |
|
|
