IVA Information

Services we offer :

Debt
Management

‘Debt management’ is a term which denotes managing dues. One can say that a debt management..

Debt
Solution

There are various debt solutions available in the market that helps people in getting out of arrears..

Repayment
Management Plan

Repayment Management Plan can efficiently subsidise your debts and gift you with a new lease of life...

Debt
Consolidation Loans

Currently, if you are in a knotty situation where you are pressurized with your debts..

IVAs

There are some situations, where one can not able to pay back its loan amount and trapped..

Money Saving Tips

The right money saving tips can go a long way in mending your finances and render the perfect solution you seek

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IVA Information

If you are looking for some useful IVA information, here are few steps to get started with an IVA-

Applicant should be resident of UK.
He/ she must be bankrupt which means that facing difficulties in paying debts or total debts are more than the equity in home.
Debtor must have debts over £15000. If debt amount is smaller than this then you can consider a Debt Management Plan.
Debtor must be able to afford at least £200 per month towards to his payments. The reason behind is that the creditors require to get at least 25% of their funds back before they will consider starting an IVA for you.
Debtor should have a regular income and show that he can afford all basic living expenses such provisions, clothing and utility bills.
Debtor must show positive attitude towards paying debts so that the IVA practitioner feel comfortable.

At Debt Management Info, we provide IVA Information for all aspects of an IVA. Monthly payments are subject matter of personal circumstances of the debtor. During an IVA regular reviews of the financial conditions and ability will be undertake to maintain debtor’s monthly payments. These reviews are normally conducted once a year. If during these reviews, it is agreed that your situation have not changed, then you will continue to make your monthly IVA payment as normal.
If however, your financial standard has changed for the better, you may be asked to increase your monthly payments accordingly. If during the time of your IVA your circumstances change for the shoddier and you cannot maintain the agreed payments. In these circumstances, the IP can ask your creditors if they will agree to vary the terms of your offers. If up until that time, you have maintained your payments without crisis, your creditors may be mindful to accept such modifications.