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Kensington Financial Management

What is an IVA?

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If you have a significant debt problem (normally over £15,000), you may be eligible to begin a legal process known as an Individual Voluntary Arrangement.

This means that your creditors accept a reduced offer of repayment to settle their debt. By entering into an IVA, your total debt repayments - including costs - you could clear your debts in 60 months

Payments are usually made over five years, after which the remainder of your debt is written off. During the repayment period, all interest and charges are frozen and you will receive no more correspondence from your creditors.

For further information on IVA's please do not hesitate in contacting us on free phone 0800 096 4409.

  • All interest and charges on your account are frozen.
  • Your account is administered by a fully qualified, licensed insolvency practitioner, who takes responsibility for liaising with your creditors and distributing funds on your behalf.
  • We can perform a confidential review of your circumstances to see whether you are eligible.
  • A legal process for UK residents (excluding Scotland) with a significant debt problem.
  • On agreement your creditors accept a reduced offer of repayment in full and final settlement of the debt.
  • Payments made in a 5 year term.
 
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© Kensington Financial Management Consultants Ltd 2001 - 2008
Company Registration No: 4636160 | Licensed under the 1974 Consumer credit act | Consumer Credit Licence No: 532545