IVA Process

AllClear Finance have helped our clients get accepted for an IVA. The process can differ for each individual case, so below is only an outline. For more information, please call out AllClear Finance advisors on 0808 131 0038

The AllClear Finance IVA Process:

	Day 1: You make initial contact with us, either by telephone (0808 131 0038) or filling in out online form. One of our specialist IVA advisors will determine whether an IVA is the best option for you. We send our "Fact Finder" pack out.
	Day 7: You send the signed "Fact Finder" pack back to AllClear Finance and include the required supporting documentation.
	Day 10: We draft your IVA proposal based on your unique information, and the send it out you.
	Day 15: You agree and sign the IVA proposal and send it back to us. We will organise meetings with your creditors and take on any administration tasks until…
	Day 36: Your creditors have agreed to the terms of your IVA proposal, and you can begin to make payments. You are now on the road to clearing your debt.
	Month 60: Well Done on completing your IVA! You are now FREE FROM DEBT.

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)