IVA Articles
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IVA : Northern Ireland IVAs
For those people that live in Northern Ireland, and are struggling with financial difficulties, the Individual Voluntary Arrangement (IVA) still remains a possibility.
Any person living in Northern Ireland:
- That has personal unsecured debts over £15,000.
- Owed to 4 creditors or more.
- Who is in employment.
- Unable to afford their normal monthly debt repayments.
And, what's more, it doesn't need to be set up by an Insolvency Practitioner who only practices in Northern Ireland.
There is no difference between an Individual Voluntary Arrangement (IVA) in Northern Ireland and an Individual Voluntary Arrangement (IVA) in England or Wales, though there are some slight differences to the initial setting up procedure. (An Individual Voluntary Arrangement (IVA) in Northern Ireland will require extra paperwork to be processed through the Northern Irish courts), but this has no bearing on the actual Individual Voluntary Arrangement's (IVA's) terms.
This extra work carries a double impact. Firstly, it adds to the Individual Voluntary Arrangement (IVA) set up costs, [costs that you do not pay], and secondly it can lengthen the normal application time by several weeks.
Due to these extra requirements some insolvency practitioners refuse to consider acting for people in the province.
However, myIVA-Adviser.com will consider your case on its advantages to you and your creditors, and if the IVA is a feasible solution, and your preferred choice, will will act on your behalf.
Indeed, we do have many successful Individual Voluntary Arrangement (IVA) applications from Northern Ireland in our case history.
For full details about how to set up an Individual Voluntary Arrangement (IVA) in Northern Ireland, call one of the myIVA-Adviser.com team on 0800 088 7503 and they'll explain how the process works.
Alternatively, if you still need more information you can choose from any of our 6 different free to download IVA guides to help you. They are packed full of information and advice to help you understand more about Individual Voluntary Arrangements (IVAs).
