Debt Management Companiesdebt-management company
Do you know that you can depreciate up to 80%* of your debt with an IVA and that you could be debt-free in 5 years? IVA is a great way to quickly become debt-free. By paying what you can for a certain amount of money, your lenders will depreciate the remainder of your debt.
This example shows you how you can profit from an paid IVA: paid now: This example allowed the customer to get 55% debt relief. 11,000 of the customer's entire debt was amortised at the end of the time. You need your lenders to approve your lVA, and the amount paid each month is determined by your specific situation.
Charges are added to your existing International Valuation of Amount (IVA), but are not additional and are based on your specific case.
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In general, there are two kinds of debt management companies: Fee payments - here you will be taken an amount out of your total amount before it is transferred to your lenders (usually between 10% and 15% of your total amount). It can also be anticipated that you will make 100% of your first installment to the business that manages your debt.
Free of charge payments - here 100% of your total amount is transferred to your lenders to cover your debt. Some debt management companies can provide this free of charge because they have longstanding agreements with lenders who commit to "finance" them in exchange for administering the litigation.
It is important to remember that this financing is a completely independent operation and does not influence your payment in any way. Bondholders agree effective to get less back to the debt management corporation to make a payment to the debt management firm. Debt management companies will say that they offer a better level of services and that, because of the way they are financed, consulting by non-chargeable organizations is likely to be geared towards debt management.
In this way you can be sure that the council you receive is unbiased and that 100% of your payments will repay your debts. Find out more about Debt Management and whether it is appropriate for your specific needs in our Debt Management section. When you want to contact someone about debt management or would like to review alternative options, please call 0800 043 40 50 to consult a consultant.