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IVA Case Examples

Have a look at some of our IVA Case Examples below.

Before IVA

After IVA

Total Debt: £19,000

Debt Repaid: £15,000
Debt Written Off: £4,000

Monthly Repayments: £560

NEW Monthly Repayments: £250

A single mother was in difficulty trying to manage repaying her monthly credit card and loan repayments. She contacted us to see if there was anything we could do to help.

After reviewing her circumstances, we were able to determine that she was insolvent and that an IVA was the best course of action. We were able to determine that the most she could afford each month was £250 in the IVA. We were able to negotiate her IVA with her creditors. She will pay £250 for 60 months and on completion of the IVA, she will be Debt Free.

Before IVA

After IVA

Total Debt: £33,000

Debt Repaid: £21,000
Debt Written Off: £12,000

Monthly Repayments: £920

NEW Monthly Repayments: £350

A single male client was paying his creditors over £920 per month and was finding it difficult to live. He was neglecting everyday essentials like food and heat and rent payments just to pay his debts. He got in touch with us to see how we could help.

It was determined that he could realistically afford to pay £350 per month, which was the money he had left over from his income each month after all essential living expenses were considered. We put forward an IVA proposal to his creditors which was accepted. After 60 monthly payments, his IVA was successfully completed. The remaining debts were written off allowing him to start over free of his debts.

Before IVA

After IVA

Total Debt: £38,000

Debt Repaid: £15,600
Debt Written Off: £22,400

Monthly Repayments: £785

NEW Monthly Repayments: £260

A single lady was struggling to repay her monthly payments on unsecured debts totalling approximately £38,000. The situation was getting increasingly worse and she was missing payments.

After discussing her problems with us, we discovered that an IVA would be a suitable option for addressing her problems. We put forward an IVA proposal to her creditors explaining that she could afford to pay £260 per month towards her debts. Her IVA was accepted and she paid the reduced payment for 60 months, after which her IVA was complete and she could start over, free of debt.

Before IVA

After IVA

Total Debt: £46,000

Debt Repaid: £22,000
Debt Written Off: £24,000

Monthly Repayments: £700

NEW Monthly Repayments: £300
Lump sum introduced after 10 months: £19,000

Our clients were struggling to repay their joint debts, with monthly payments totalling over £700 per month.

After reviewing their situation, we were able to determine that an IVA was the best course of action. The IVA was agreed with their creditors and they started paying £300 per month into the IVA. After 10 months, they successfuly remortgaged their home, which had equity on it. They were able to release £19,000 equity which the creditors accepted as Full and Final Settlement of the debt.

Before IVA

After IVA

Total Debt: £106,000

Debt Repaid: £54,000
Debt Written Off: £52,000

Monthly Repayments: £2,500

NEW Monthly Repayments: £350
Lump sum introduced after 20 months: £47,000

A couples monthly debt repayments were very high, and their incomes could not cover the demands. They were insolvent.

An IVA was their best course of action. We were able to determine that the most they could afford each month was £350 in the IVA. We were able to negotiate the IVA with their creditors. After 20 monthly payments of £350, they were able to remortgage their home and surrendered endowment policies that they had. This allowed them to raise £47,000 which they were able to agree with creditors as full and final settlement of their debts.

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