IVA Articles
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IVA : Will My IVA Proposal Be Accepted ?
The million dollar question.
It is reported that as many as 80% of all Individual Voluntary Arrangement (IVA) applications are successful. However, that's small comfort if your IVA is one of the rejected 20%.
The good news is that you can do something to increase your chances of applying for an Individual Voluntary Arrangement (IVA) successfully.
And here's how:
The Individual Voluntary Arrangement (IVA) application process requires a client to submit an Individual Voluntary Arrangement (IVA) Proposal to their creditors at a 'Creditors Meeting'.
The outcome of the Creditors Meeting will depend on whether the creditors believe that the clients proposed Individual Voluntary Arrangement (IVA) represents a better financial return than the return they could expect to see from the client being declared bankrupt.
So as you can now see, the preparation of the IVA proposal is everything.
In essence, the Individual Voluntary Arrangement (IVA) proposal is the clients opportunity to explain to the creditors how they came to be in financial difficulties, and demonstrates to creditors how they intend to repay what they can afford, through the structure of an Individual Voluntary Arrangement (IVA).
This is all well and good in theory, but how will you know what the creditors will expect to see from you in the Individual Voluntary Arrangement (IVA)? How will you know what to offer your creditors as your Individual Voluntary Arrangement (IVA) payments? Will they expect you to stop paying towards your pension? Or your H.P. agreement for your car? Will they expect your partner to pay towards your debts? The list goes on.
This is why it is so important to make sure the company who you select to assist you with this part of the process actually specialise in Individual Voluntary Arrangements (IVAs). At myIVA-Adviser.com, because Individual Voluntary Arrangements (IVAs) are our specialist subject, we are able to keep our finger on each creditor's pulse.
We are constantly in touch with the creditors, making sure we know what they are looking for in the Individual Voluntary Arrangement (IVA) Proposals, and possibly even more important, what they do not want to see.
This allows our advisers to provide each and every client with the very latest Individual Voluntary Arrangement (IVA) information, relevant to any potential Individual Voluntary Arrangement (IVA) case.
Only when your adviser is satisfied your case meets all the necessary requirements will they suggest it is passed to our insolvency practitioner to prepare, which in turn dramatically reduces the chances of your Individual Voluntary Arrangement (IVA) being rejected.
At myIVA-Adviser.com, we offer a 'no quibble' money back guarantee to any client who has their Individual Voluntary Arrangement (IVA) proposal rejected, full details of which are at the foot of our home page, which we believe shows not only our confidence in our service, but also our commitment to helping you become debt free without any financial risk.
