Do these apply to you?
Exactly what happens next...
We approach your creditors and arrange for you to enter into a formal arrangement whereby you pay a percentage of your overall debt in full and final payment. This payment can either be a one off or spread over the course of 1 - 5 years.
We make them understand there is no benefit to them if they continually demand money, which the individual clearly does not have.
We make your creditors realise that your payments can simply not be made and make it clear that they have two alternatives:
- Make our client bankrupt and receive nothing - which is in nobody's interest -or
- Agree to a formal arrangement where they will receive a percentage of monies due.
The return for creditors in an arrangement such as this is far more beneficial than would be achieved in a bankruptcy procedure
Think about it, what would you accept if you were owed money?
- You enter into a legal agreement which binds you and your creditors. Once agreed to, they can never trouble you again for those debts.
- This procedure is referred to as an Individual Voluntary Arrangement (IVA) . It offers a more constructive solution than of bankruptcy.
- This agreement is governed by English law and although widely practiced it is not commonly known.
- You are probably saying to yourself that it is too good to be true. We can prove to you that there is an answer to your problems.