Our online PPI claims application.
Fill in our online application form and submit directly to one of our specialists, then just wait for the call.
‘Hollyoaks’ shows how to branch out digitally
Thu, 29 Jul 2010 21:08:34 GMT
Dragon’s latest version of NaturallySpeaking is an impressive advance in voice recognition and control for PCs
Thu, 29 Jul 2010 21:08:44 GMT
Individual voluntary arrangement - How it works
An Individual voluntary arrangement (IVA) is an alternative to bankruptcy.
It is a formal arrangement through the county court to pay an agreed amount off your debts over a shorter period such as five years. The rest of the debts are written off.
You will need an insolvency practitioner to set up an IVA.
The arrangement has to be agreed by the majority of your creditors (by value).
- Less hassle than bankruptcy.
- No publicity.
- Not bound by bankruptcy restrictions.
- Can continue to trade if in business.
- Can exclude assets such as the home if creditors agree.
- Creditors will be bound by the IVA even if they voted against it.
- Usually lasts a maximum of five years.
- Most insolvency practitioners will allow fees to be paid on a monthly basis as part of the IVA.
- Some insolvency practitioners follow the IVA Protocol which provides guidelines for how an IVA should be drawn up and how the insolvency practitioner should behave.
- This will affect your credit rating.
- You need to have high available income or a lump sum or asset available to make an IVA possible.
- Costs are high (typically £4,000 plus) and the insolvency practitioner may require payment of fees up front.
- You can still be made bankrupt if the IVA fails.
- Some IVAs fail because the payments agreed are too high in the first place.
- If your circumstances change the IVA may end if the insolvency practitioner cannot get creditors to accept new terms.
- Many IVAs have a built in requirement to revalue your home and release equity to pay the creditors after a set number of years of payments (usually five).
- There is a growth in companies who may offer to set up an IVA for you even if it isn't suitable in your circumstances and charge high fees.
PPI still mis-sold, says Which?
Many people are still being misled into buying payment protection insurance (PPI) to cover their credit card payments, Which? claims.
READ MORE >
PPI complaints 'could run into tens
of thousands'
Finance Daily (19 February) looks at new research arguing that the PPI claims market clampdown could still cost the consumer as banks try to compensate for their losses
READ MORE >
Subscribe to our RSS news 
Our Legal Support Team
We are one of the only claims specialists to have our own legal team dedicated to helping our clients get the best service possible.
READ MORE >
Recent Claims