Individual Voluntary Arrangement
An Individual Voluntary Arrangement (IVA) is a formal debt solution in England and Wales that enables individuals to manage and repay unsecured debts without resorting to bankruptcy. By consolidating debts into a single, manageable repayment plan, an IVA offers a structured path toward financial stability.
If you have disposable assets that can be turned into cash, then chat to us now about how an IVA could work for you.
Key Benefits of an IVA:
Consolidated Debt Repayments: Combine multiple unsecured debts into one regular payment over a fixed period, simplifying financial management.
Creditor Pressure Relief: An IVA can alleviate ongoing demands and actions from creditors, allowing you to focus on regaining financial control.
Flexible Payment Terms: Negotiate terms that may include a one-off settlement or fixed monthly payments tailored to your financial situation.
Asset Protection: Unlike bankruptcy, an IVA may enable you to retain significant assets, such as your home or vehicle.
Is an IVA Right for You?
If you're struggling with unmanageable debts and seeking an alternative to bankruptcy, an IVA might be suitable. It's essential to assess your financial circumstances, including income, expenses, and total debt, to determine if you meet the criteria for an IVA. Consulting with a licensed insolvency practitioner can provide clarity on whether this solution aligns with your needs.
How Westgates Restructuring Can Assist
At Westgates Restructuring, we specialize in guiding individuals through the IVA process with professionalism and empathy. Our experienced team offers personalized advice to help you navigate financial challenges and explore the best path forward. We work closely with you to develop a feasible repayment plan, negotiate with creditors on your behalf, and support you throughout the IVA term.
Take the First Step Toward Financial Freedom
If you're facing financial difficulties and considering an Individual Voluntary Arrangement, prompt action is crucial. Contact Westgates Restructuring today for a free initial consultation to discuss your options and determine if an IVA is the right solution for you.