• It stands for Individual Voluntary Arrangement. 

• An IVA is a single monthly payment that is agreed, with your current financial situation taken into account. 

• During the course of your plan, all interest and fees associated with your debts are frozen..

• At the end of the IVA, the remaining debts are written off and you can begin your debt free future.

• Take back control and start to live your live without only thinking and worrying about who is calling you and dreading the post coming through your door.

What debts are included in IVA?

• Catalogue and store card debts
• Credit cards
• Personal loans
• Overdrafts
• Gas, electricity, and water bill arrears
• Council tax arrears
• Income tax/ National Insurance arrears
• Tax credit/ benefit overpayments
• Payday loans
• Debts to family and friends
• Other outstanding bills
• Joint debts – but the other person must also continue their payments

Advantages of an IVA

• No upfront fees.
• If your IVA is approved, creditors who vote against your proposal or who do not vote at all are still bound by it.
• Creditors whose lending is unsecured cannot take any further action against you once the IVA is approved.
• Interest and charges are frozen by law provided you keep up your payments.
• You make only a single payment each month which is distributed to creditors on your behalf.
• You will never be forced to sell your home in an IVA.
• All remaining debts will be written off at the end of your IVA using government legislation.

• We always look at troubled businesses with an open mind with a view to saving them wherever possible.  We have a team of turnaround specialist who can work closely with management to ensure that businesses are as streamlined and as profitable as possible.  We understand that very often successful businesses encounter glitches along the way and with the right advice and guidance these can be overcome to enable businesses to continue to thrive in the future

• We can provide one to one advice to the Directors of troubled companies on a regular basis. This is likely to involve an initial review followed by regular follow up using financial data to monitor the businesses progress and intended turnaround. Such advice may be triggered by specific events or a gradual decline in performance over time.

• We aim to ensure that where possible a business survives and that assets are sold for the maximum amount of money. 

• Our licensed insolvency practitioners are able to assist you in maximising recoveries to creditors when it is clear that a company is unable to survive. 

• Whilst we see formal insolvency as the last resort, we understand that it is possible to achieve a positive outcome from a formal insolvency process and aim to work closely with Directors and other stakeholders to achieve this.

• We are experts in dealing with litigations in formal insolvencies. 

• We work closely with lawyers and litigation funders to ensure that costs are kept to a minimum and that litigations are progressed in a timely and efficient manner. 

• Whilst we believe that litigation should be a last resort, we will always do our utmost to ensure recoveries are maximised.

A CVA is a process which could allow your company to:

• come to a formal arrangement with company creditors over debt repayment terms
• allow you to pay a proportion of the debts, rather than the full amount.
• The CVA is legally binding and allows the insolvent company to repay a proportion of its debts over a period of 1 to 5 years.
• For the proposal to be approved, at least 75% of the creditors (by value of debt) need to agree to the proposal’s terms.
• Company Voluntary Arrangement procedures have been a part of UK law since 1986 and is one of the Governments’ preferred rescue options for companies.
• Average CVA’s last between 2 and 5 years.

Advantages of a CVA

• The directors retain control of the company and it can continue trading;
• CVA’s have lower costs than alternative insolvency rescue procedures like administration;
• Less public than other insolvency processes (i.e. there’s no need to tell clients);
• A legal ring-fence, similar to what is used in company administration called a moratorium helps to alleviate any creditor pressure, or legal action during the CVA period;
• Can freeze interest and charges;
• It may be possible to terminate onerous contracts as part of the CVA proposal, including supply contracts, lease and employment contracts;
• The Insolvency Practitioners’ fees are included within the agreed fixed repayment amount each month;
• Since the company has avoided liquidation, there’s no requirement for directors conduct to be investigated;
• Seen as a better alternative to liquidation as the return must be better in order for a CVA to be proposed