Individual Voluntary Arrangements
An Individual Voluntary Arrangement (IVA) could be the perfect way to release the pressure placed upon you by your debt.
An IVA begins with a formal proposal to your creditors to pay part or all of your debts. You need to apply to the court and you must be helped by an Insolvency Practitioner. Any agreement reached with your creditors will be legally binding on them.
It is important to obtain advice regarding your financial situation prior to committing to this form of insolvency procedure. The information you will need to provide will relate to the assets you own; the debts that you owe and your income and outgoings.
An IVA is not suitable for everyone and it is imperative that you speak to an experienced insolvency professional to ensure that an IVA is suitable for you. At Durkan Cahill you can speak directly to an Insolvency Practitioner free of charge to discuss your circumstances and receive the best advice tailored to your circumstances.
Many firms will request an upfront payment prior to acting for you. Durkan Cahill will not request upfront payment of fees and will only put forward proposals to your creditors that it believes will be approved.
Please complete the enquiry form on the Contact Us section to receive a call back or telephone on 01242 250 811 to receive more information. All matters discussed will remain completely confidential.
