Assisted Payment IVAs

What is an Assisted Payment IVA?

An Assisted IVA is an IVA application where the debts are all in one name. While a husband/wife/partner is not obliged to pay for their partner's debt, it may give the IVA a better chance of creditor acceptance if they contribute to their husband/wife/partner's IVA. We can advise you whether an Assisted IVA is possible or necessary.

Debts which are owed jointly with another person can also be included in an assisted IVA.

Who can apply for an Assisted Payment IVA?

Anyone who meets the criteria for an IVA and has a husband/wife/partner or third party who is willing to contribute towards your IVA payments.

IVA Criteria

- Debts over £15,000
- 2 or more creditors
- At least £200 to offer creditors per month

If you meet the above criteria an IVA may be right for you and you could have a large portion of your debts legally written off.

Apply for an IVA

What is the process of applying for an Assisted IVA?

1) Contact us on 0800 043 0200 or fill out our Application Form and we will call you.

2) Tell us about your circumstances, debts, income, living costs etc

3) We will then discuss your options.

4) If an Assisted IVA is appropriate for your circumstances we can start working on your case.

5) We will draft your IVA proposal and send it to you for your review and signature .

6) We contact your creditors with your IVA proposal and ask them to accept it.

7) Upon acceptance you will start making payments as agreed in your proposal.

8) Upon successful completion of your IVA any remaining debts will be written off and you will be completely debt free.

IVA Example

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* A fee is only payable where further services are requested. All fees will be explained in detail and discussed prior to commencement of any service or debt repayment plan. In the IVA our fees are included in your monthly payment to your creditors so you will not have to pay anymore than you can afford. More suitable debt solutions may be offered which may result in different fees applying and we will discuss those with you during your initial consultation. Creditors may still contact you with promotional material or to fulfil contractual obligations to you but they should deal with us in all aspects relating to the outstanding debts.
Acceptance of your IVA cannot be guaranteed but we will do our best. You must meet certain criteria which will be discussed with National Debt Relief advisors. Where we put a client forward for an IVA we believe they have an excellent chance of being accepted. Debts will only be written off where a client has made an agreed payment for a fixed period. In return the creditors agree to write off the remaining balance. Typically, our clients average debt write off is between 60-70% of the debt. What debt you have written off will depend on your individual circumstances and is subject to creditor approval and completion of the IVA. Your credit rating may be impacted for up to six years from the commencement of you IVA. Homeowners may be required to introduce equity if available.

Phonecalls: Calls from a landline are normally free. Please consult your provider if you are unsure. Calls from a mobile may be subject to charges. If you get charged just ask us to call you back for free.