Pre-insolvency advice Failed IVAs

Failed IVAs are a nightmare. The protection of the IVA goes and Creditors will again aggressively chase debts owed. Bell & Company can help in every instance.

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Failed IVAs

There are many why an IVA could fail. Failed IVAs could occur by missing several repayments without discussing your reasons with your creditor, all assets in your initial application weren’t disclosed or even took out further credit during your IVA.

Whatever the reason, Failed IVAs doesn’t mean the end of the world – there are options, and the team at Bell & Company can help advise and protect your assets.

Failed IVA Facts:

  • Over 77,000 IVA’s were approved in 2019
  • The failure rates ran at approximately 20%
  • If your IVA failed, for whatever reason…..there are options
  • And more importantly we at Bell & Company offer Independent Professional Insolvency Advice – selling you nothing!

Call us now on 0330 159 5820 – know your options

 

FAILED IVA’s

There are alternatives to your Failed IVA’s.

Consequences of IVA’s

  • IVA’s usually last for 5 years, however, creditors may have a right to vote for this to be extended for longer.
  • If you are a homeowner, you may have to release equity into the IVA.  Re-mortgaging in IVA’s are not easy and because IVA’s affect credit ratings, they may have high-interest rates.
  • PPI and other large windfalls are due into the arrangement.
  • An IVA means living within a restricted budget, and if your income increases, you may have to increase your monthly payments.
  • Aggressive creditors can request that the payments be increased from the outset.
  • Set-up fees and costs are paid first, therefore creditors in low paying IVA’s receive very little in return.
  • If you cannot keep up with the payments your IVA can fail.

If your IVA fails, you can be financially worse off than before it started.  But don’t panic, there are alternatives. That is where Bell & Company come in.

Chat to our expert IVA debt management team by live chat, phone or email and we will get back to you very quickly.

 
 
 
 

If your IVA has failed, call us: 0330 159 5820 and speak to one of our Insolvency Experts Today.

We offer Free Independent Professional Insolvency Advice to ensure that you are aware of all possible debt solutions specifically suited to your situation.

Tick iconWhat we do

We offer a Free consultation to provide the best independent professional Insolvency advice tailor suited to the individual’s circumstance. Our services include Bankruptcy, Debt Relief Orders and Assisted Debt Payment plans. We believe there is an alternative solution to an IVA.

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Free Consultation

From the outset, we establish clear bottom lines with our clients, so we understand what their priorities are and what must be protected. We then create a strategy to navigate the way out of corporate and personal debt with impartial advice and rigorous action.

Specialist, Impartial Advice

We have very sharp minds at Bell & Company, so we are extremely adept at finding unconventional strategies and solutions to resolve our clients’ debt dilemas.  This means that when you are with us, you can be assured that we are working on the best possible outcome.

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