When you undergo a financial crisis, when there are letters threatening about your dues, the debts to be paid off and when there are bailiffs at your doorstep, it is high time to seek a professional service in your debt management. An individual voluntary arrangement is where one can find a perfect and a safer solution to all your debts. An IVA Plan gives you all those benefits where you can discuss with your creditor and pay the debts in partial sums over a period of time or can pay them in one settlement. This is where you get a chance to pay a certain amount if you are unable to pay in full. There are many debt management service providers to help you in this.
Coming to my personal experience, few years ago in 2013, I was undergoing a serious debt problem and was facing a lot of issues in my relationship due to this. I was worried and let down in all ways. When I was totally lost, I happened find these debt relief service providers online. They were my only source of hope back then as I had absolutely idea on how to recover from all these financial crisis and bankruptcy. When I got down to these websites, there were many such plans offered by each. Some had some initial registration fee while others offered a free advice to get started. I went with the one that is free of cost as I couldn’t afford to pay. I learnt their services and schemes which will be as listed below:
- Debt relief Order
- Individual Voluntary Arrangement
- Protected Trust deed
- Minimal assets process
- Equity release and mortgages
- Sequestration bankruptcy
- DIY debt plan
- Self employed IVA
Besides these, I also learnt about their online debt remedy tool, a benefits calculator, what I should know about my creditors operations, debt management companies, debt management schemes, consolidations and many more. With so much of information in hand I had no idea where to start with. Thanks to the professionals who took me through the process very smoothly and in a friendly approach. I was asked to go with the IVA plan which is where I was asked to pay a certain sum constantly every month up to a certain period so I can fulfil by creditor’s target. Post this, my debt amount would be waived off.
There was so much I had to understand before I could proceed with the IVA scheme. I took the helpline to confirm if this is what is apt for my situation. There were experts readily available free of cost to guide me. Then I had to submit my financial documents for the experts to review the same. They took it forward to the creditors with the proposal I gave them with respect to the amount I would be able to settle in the process. These professionals are well trained that they immediately took it forward in such a way that the creditors had approved. Note that you will have to reach an expertise in this case who is skilled enough where your issues will be solved with ease. Then I was asked to pay a certain fee one my IVA was in progress. If you still have any kind of doubts, you can avail their chat system, ask them side by side as you go through the process of filing an IVA.
This is how I had come across all my debts effectively and now though they aren’t cleared entirely, at the least I am able to sleep properly at night and able to attend home phones and stay relaxed as I am paying my creditors constantly every month.