Actually starting an IVA is relatively simple, it’s the deciding to start an IVA that tends to be the difficult part.
Once you have taken the decision to start an IVA application, you’ll need to speak to an IVA adviser. Together you will establish whether or not you qualify for an IVA
Once you are sure you qualify for an IVA you need to get the IVA process started.
Finding the best IVA company to represent your interests is crucial. There are many companies who will be able to provide you with the basic IVA application service, but by making sure you choose the right one you can really make a significant impact on your chances of having your IVA agreed at the creditors meeting.
My IVA Adviser’s success rate at passing IVAs through their creditors meeting stands above 95%. We offer a free IVA application service, and our insolvency practitioners will not charge any fees in the event that your IVA is not accepted by your creditors. Period.
Whichever IVA company you decide to use, starting an IVA will require the same initial steps to be completed.
- You will need to appoint an insolvency practitioner to act as your IVAs nominee.
- You will need to provide all the relevant documentation to the IVA drafter to enable the IVA to get started.
- You will have to wait until your creditors meeting before you will know whether or not your IVA has been accepted.
From starting the IVA application through to the IVA creditors meeting normally takes about 6-8 weeks, during which time your insolvency practitioner acts as your financial adviser. Once the IVA has been agreed by your creditors your insolvency practitioner acts as your IVA supervisor.
If you want to start an IVA call 0800 088 7503 and one of our IVA advisers will start the process straight away.
Or contact us by this application form and we’ll call you back at the time that suits you.
Related Articles: