Is your personal debt mounting up? Are you looking for options to make your personal finances more manageable? Are you concerned about your level of debt and how to reduce it?
The team at HJS Recovery have been supporting individuals in distress about their personal finances for over 25 years. Talk to us today to review your options and put a positive plan in place to better manage your debt in the future.
An Individual Voluntary Arrangement, or IVA as it’s commonly referred to, is a legally binding agreement between you and your creditors whereby you agree to pay a monthly sum that you can afford for an agreed period, normally 5 years. In return for your commitment to pay the agreed sum, the remaining debt is written off.
When entering into an IVA a detailed proposal is prepared and sent to your creditors. If 75% of those who vote, agree to the proposal, then all your creditors will be bound by it.
HJS Recovery’s licensed Insolvency practitioners are then appointed as supervisors of the IVA.
An IVA will help release financial tension, and ease the pressure from your creditors. However you should be aware that whilst in an IVA, you will be restricted in the following ways:
An IVA can be a very effective tool in helping you overcome your personal financial burdens. The proposal has to be representative of your situation and realistic in terms of what you can afford. HJS Recovery will be able to advise you if this is the best option for you.
As an individual concerned by the state of their personal finances it’s important to remember you are not alone and help is available. Whatever your situation HJS Recovery will help you to find the right solution for your individual circumstances. Call us today on 0800 0141 130 to take the next step.
We have a team of advisers who have helped hundreds of businesses around the UK that have faced financial pressures on every scale. You are not alone.