Top IVA consultancy firms in Liverpool

Liverpool, the metropolis of Merseyside, is facing the most severe financial crunch in recent years. Most of them are facing the problem of overweighing debts and as the situation is worsening, they are in no position to repay them back. They are in dire need of financial advice and a good debt solution that would help them get relieved of the debts with the minimum side effects. As IVA is found to be the best solution, many Financial and Debt consultancy specialists have raised themselves up to shoulder the responsibility of providing these denizens with proper guidance to go for an IVA or any other such debt solution in Liverpool.

One such firm is the Clear Financial Solutions are a Liverpool based Consultancy firm that have many years of experience and are experts in Financial and Debt advice especially for IVA. They can be reached at 0845 1120 570 or you can write to them at info@cleardebtadvice.co.uk. Alternately, you can visit them in person at 4, Greenbank Rd. Liverpool, L18 1HN. For more details log on to http://www.cleardebtadvice.co.uk/
They have another branch at 52 Penny Lane, Mossley Hill, Liverpool, Merseyside, L18 1DG. For a telephonic communication call them at 0870 700 0100
123 Debt Solutions Ltd, is a consultancy firm located at 10A Dryden Road, Wavertree Technology Park, Wavertree, Liverpool, L7 9PG, UK. They deal with IVA and can also provide advise over telephone at 0808 22 22 123. For more details browse through their website at http://www.123debtsolutions.co.uk/
Booth, Parkin S, 44 Old Hall Street, Liverpool, L3 9PP, Tel:0151 2364331

Commercial Credit Consultants, 8 Anson Street, Liverpool, L3 5NY Tel: 0151 7095777

Rooney Associates, 19 Castle Street, Liverpool, L2 4SX, Tel: 0151 2369999

Harmony Debt Management, Liverpool, L17 4JH, Tel: 0800 7838552

Help a Debt, 6th Floor, Horton House, Exchange Flags, Liverpool, Merseyside, L2 3PF, Tel: 0151 549 3165
Liverpool Debt Advice Helpline, a member of the Insolvency Practitioners Association is a helpline that services the people of Liverpool with IVA and other debt solutions and can be reached through free phone service on 0800 169 1536.
The UK Insolvency Helpline is yet another leading helpline that extends its services throughout UK and has a panel of leading IVA professionals. For more details log on to http://www.insolvencyhelpline.co.uk/ or call them at 0800 074 6918.

Now we have been mentioning about IVA and IVA specialists. What is an IVA?
IVA is Individual Voluntary Arrangement, a debt solution that has been endorsed with legality by the UK Government and fully available for the inhabitants of Liverpool. It is an agreement between the debtor and the creditors and the debtor takes the initiative. It has specifically been introduced by the UK Government, to help out those debtors who are caught in financial crossroads. They are in debt and can neither repay it nor want to go for bankruptcy as the debt amount is not such huge so as to put their entire financials into stake.

The IVA is applicable when the debtor has debts that are equal to or more than £15,000. The debtor has a regular income and a minimum of £200 as disposable income.
While initiating an IVA the Insolvency Practitioner would collect all the relevant financial details from the debtor, calculate his minimum monthly expenses, and derives at the minimum amount that he can pay every month towards the debt. Based on this and the total debt that he owes, the period for which IVA has to be set is decided. If the debtor agrees to it a proposal is drafted and signed by the debtor and the IP takes it to the court of law and gets it approved. Once approved the creditors are informed about the IVA and they are sent a copy of it.

They are asked to attend a ‘Creditors Meeting’ to discuss on it and make any necessary changes. Then a voting takes place among the creditors and if 75% of them votes in favor it is passed through. A final report is then prepared and circulated among the creditors and one copy goes to the court for information and records.
Now the debtor has to make the agreed monthly amount to the IP who will then pay it to the creditors. This will continue for an agreed period (Maximum of 60 months).

In the meantime, the IP will make annual reviews of the financial situation, and payment methods to ensure that the debtor is on track and adheres to the guidelines mentioned in the IVA.
Once the entire period is over and the dues are regularly paid, the IP then prepares a final report and submits it in the court and the court issues a ‘Completion Certificate’. Now the debtor is free from the clutches of debt.

The key points of an IVA in Liverpool
The debtor can go for an IVA and get his debs written off up to 75%.
He can make the payments on easy monthly installments for a tenure of 5 years.
He cannot be forced to pay more than his capability. It is only the amount that he can afford that he needs to pay.
It is the most suitable debt solution when it comes to small and medium unsecured debts in the city of Liverpool.
The law protects the debtor and thus the creditors cannot sue against him or go for filing bankruptcy against him once the IVA is initiated.

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