Cold Calls: We have received a number of people being 'cold called' by someone
claiming to work for Debtline Direct. Debtline Direct do not cold call anyone, ever.
If you receive a call, please obtain any information you can about the caller and
email info@debtline-direct.com and
we will pass the details onto the authorities.
Is an IVA (Individual Voluntary Arrangement) right for you?
If you’re struggling to meet all your monthly debt repayments, an IVA may be right
for you. In order to qualify, you must:
- Owe at least at least £15,000 of unsecured debt to at least 3 different creditors
- Be able to make significant monthly contributions into the IVA, for a fixed period
of 60 months
- Have a regular income, that is not solely benefits-based
- Have part of your debt written off and pay what you can afford
- Have interest and charges frozen or stopped
- Have all letters and phone calls stopped from your creditors
- Have a single monthly payment
Your questions about IVAs answered
Q. How long will I have to pay on an IVA?A.
An IVA will typically run for 60 months (5 years). However, if you have any equity
in your home, this may be extended. Q. Who can apply for
an IVA? A. People who owe over £15,000 of unsecured debts,
to three or more creditors may be eligible. However, you have to pay back a minimum
amount into the IVA, so people with a low monthly disposable income may not qualify.
If you could afford at lead £200 per month, you may qualify.Q.
How is an IVA set up? A. An IVA has to be proposed by someone
called an Insolvency Practioner (I.P), who is basically an accountant. An IVA proposal
is then made to all of your creditors. If the majority of them agree to the proposal,
the IVA will go ahead. Q. . How do you calculate what
I pay? A. There is a minimum payment per month based on
income and the level of debt. The payment must be affordable for an IVA to be accepted.