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What is an IVA ? An IVA (“Individual Voluntary Arrangement”) is quite simply an alternative to bankruptcy, and is a contract between you and your creditors. Your “Insolvency Practitioner” will assist you in your proposal to creditors and this will be voted on at a creditors meeting organised by your “IP”. There is no need for you to attend this meeting and if 75% of value of your creditors vote for acceptance of your proposal the IVA is implemented, and you are on your way to a much brighter future, governed and supervised throughout its tenure by your “IP”. Write off Debt will introduce you to your “IP” and follow your progress until you are completely debt free. Never agree to an arrangement that is not realistic and achievable, you must tell your “IP” all of the facts, he is the link to your creditors and must be given all the information to enable him to convince the creditors that the offer is fair and genuine. Please remember that your creditors will be aware that the chances of them receiving 100 pence in the pound are slim indeed, but your “IP” is duty bound to make the offer a fair and honest one. Conclusion Your “IP” understands that this may be a distressing time for you and has assisted many people in your situation before. Write off Debt have put at your service one of the top “IP” in the business, his judgement and experience will help you through this distressing time, and make sure you are doing the right thing from now on. Main Regulatory Authorities Association of Chartered certified accountants Insolvency Practitioners Association The Law Society. Secretary of State for Trade and Industry |
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WOD, Burycroft House 1 Bury Road, Epping, Essex, CM16 5EX |
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