Full & Final IVA
An Individual Voluntary Arrangement “IVA” can provide for a lump sum payment to be made to creditors. This is likely to be appropriate where your client simply has insufficient surplus to make monthly contributions, however a lump sum settlement is available to offer creditors.
Normally the lump sum is raised by remortgaging their property or introducing a lump sum from relatives. For individuals over retirement age, an equity release scheme may be possible.
Charges to your client
As soon as your client decides to proceed with an IVA then their payments to creditors cease and contributions towards their IVA start. These will be set at a figure which they have agreed they can afford.
The fees will be similar to fees detailed under IVA.
Please click here to see details of our revenue share for Full & Final IVA clients
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