Free IVA

Introduction to Free IVA

According to statistics, more than 20 percent of UK residents are in debt and could benefit from an IVA. Although this is very hard to believe, one in five citizens of the UK is struggling to repay their debts, and falling behind on their credit card, mortgage and other payments. Due to this fact, debt management has become one of the most important issues of the modern way of living. More and more people are falling victim to the lifestyle of spending money they do not really have and living from day to day, from one credit card payment to the next.

In addition to this, the economy is no longer what it used to be, incomes of many people have decreased and are decreasing significantly and all of this has brought many people to the end of the line. Namely, a great number of people are beginning to realise that an IVA is their only chance of getting out of the seemingly never ending chain of repayments and getting back to leading a normal and predictable life.

Free IVA – Is It Really Free?

In essence, when people decide on an IVA, it is important to find a company that will be upfront with their fees and that will not have any hidden expenses in store for them. However, people can rarely tell which companies are really there to help them and which are there to make some quick money. Unfortunately, there are many more IVA and debt management companies in the UK than there should be, and many of these companies are not exactly honest and upfront.

The most important thing to understand is the fact that it is crucial to keep up with the repayments after the IVA plan in question has taken place, and to go through the period of five years preferably without causing any problems with the repayments of the debt. When this period is finally over, people are free of any remaining debt and can get on with their normal lives. When it comes to the fees that the IVA companies charge, they are incorporated in the repayments and designed in a way to be as low as possible.

Free IVA – Where to Find It?

There are a number of companies in the UK that offer free IVA advice, and here are some of them:

• IVA Free Help – this is a government agency that provides people in debt with totally free debt management advice and free IVA plans that will lead anybody down the path of becoming debt free in 60 months.
• Free IVA Advice – this is a privately owned company and they do offer free advice and a free and non obligatory IVA, meaning that if the creditors decline their IVA proposal, they do not charge their clients anything.
• My IVA Adviser – a website that offers a lot of useful advice on debt management and IVA’s, free IVA guides and a free hotline so people can talk with an expert and ask them anything they need to know about the process of an individual voluntary arrangement.