Albany, New York United Kingdom (PressExposure) July 10, 2009 -- With UK debt at an all time high IVA.net are offering anonymous free debt services and a free debt helpline to help people take control of their ever expanding financial problems.
Based in Edinburgh, the IVA (Individual Voluntary Arrangement) is a legal and government approved method of resolving debt problems so people in financial trouble can avoid bankruptcy.
If a person is suffering from debts of over Â£15,000 to three or more creditors and are struggling to meet the repayments, they may be eligible for an IVA.
Taking out an IVA is an appealing one to creditors as they are more likely to recuperate more of the debt owed to them via an IVA rather than if someone was to declare themselves as bankrupt.
Personal applications for an IVA are decided by an Insolvency Practitioner (IP) who will guide every client through all application stages.
No fees are expected to be paid at any point during the process, and customers can often expect to see around 75 per cent of their debts written off if their application is successful.
The team have written up hundreds of IVAâs and have implemented an advanced calculator designed to help find each individual customer a debt solution, which they are eligible for.
The typical repayment plan for an IVA is around five years. Over the repayment period, customers are not charged any interest on top of their debts, and monthly repayments are calculated to be manageable and realistic to each individualâs personal needs.
The team at IVA are solely dedicated in helping people reduce their debts and will not offer debt management companies as a solution to people who arenât successful in their application for an IVA. This is due to the high fees charged by many debt companies which many people can often not afford.
Instead, a team of six counsellors are on call to give sold free debt advice and solutions to help people get rid of their debt on their own without any added cost.
The team have also designed a bespoke money saving service created to reduce a personâs bills and out-goings prior to the IVA, proving that the team are all about helping reduce their expenditure wherever and whenever possible.
The website hosts a wide range of information about debts, loans and advice as well as all other services provided and how it can benefit people struggling to manage their debts.