Apply For Individual Voluntary Arrangement























Apply For Individual Voluntary Arrangement

Apply For An Individual Voluntary Arrangement: Debt Relief Without More Debt

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People who are struggling with the burden of debt nevertheless still have to pay the bills like everyone else. Yet finding the funds to do so becomes almost impossible when times get tough. One obvious solution would be cut the size of the household debt immediately and apply for an Individual Voluntary Arrangement, where all bills are put together and reduced in size so that there is only have one manageable sum to pay off at the end of every month.

When you apply for an Individual Voluntary Arrangement you will actually write off most of your unsecured debt as well. This is calculated precisely to suit your own requirements and situation by a qualified Insolvency Practitioner.

So apply for an Individual Voluntary Arrangement by using the form below.





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Apply For Individual Voluntary Arrangement: Some Background Notes

In order to be able to apply for an Individual Voluntary Arrangement you must have a salary in excess of a particular bare minimum quantity and have financial debt of over a specific amount, and these figures can alter from one insolvency company to another. Generally earnings must surpass these repayments after all the additional usual bills have been paid including home loan installments and also council tax and utility costs. The average minimum volume of debt is around 2,000 although this number may differ. A top value of 50,000 will be imposed in a few situations, however by going via a specialist or intermediary you can get a source of help a lot more applicable to your unique position.

One key advantage of an arrangement like this is that it may possibly instantly trim the debt by a large amount. Typically that could be as high as sixty percent, sometimes a little more. This kind of reduction in debt load can make a substantial impact and can be the chief issue that differentiates an Individual Voluntary Arrangement from an otherwise standard debt reduction package. For that reason someone in search of such a procedure ought to apply for that instead of a conventional debt assistance program.

An Individual Voluntary Arrangement will be a very valuable resource and most folk would certainly leap at the chance of acquiring one because it is legally binding and releases the client from the debt when the arranged term has ended. It is a significantly more civilized answer to individual insolvency compared to other more draconian tools like sequestration and it bears little or no stigma.





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Take a look at the Insolvency Service's leaflet called 'In Debt', downloadable here.





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