Finding a trustworthy IVA advisory in Carlisle

Carlisle is considered to be one of the most debt ridden and its average debt percentage far outweighs that of the National Debt and thus a more serious and in depth debt solution and services are a must in this place. And for this, many Debt Service Organizations have been exerting more focus on this place. There are many Debt Consultants who are operating online and through telephonic services to provide the people of Carlisle with needed consultation and advise to come out of the mess of debts. While some may have their physical offices here most of these advisories work online or through telephone on help lines or both.

Armstrong Watson is an IVA firm practicing in the city of Carlisle and have their office at 15 Victoria Place, Carlisle, Cumbria. Tel- 01228 690 100. Their website is

The UK Insolvency Helpline is an online service that has a host of licensed professional firms in its panel and coordinates with the clients and these firms to provide the best debt management services. They can be reached at 0800 074 6918 or at their website at

IVA Advisory Centre, a part of the Think Money Group is one of the top ranking debt specialists that provide excellent advises and guides the clients with best possible debt solutions. They are a Licensed Insolvency Practice and thus are quite reliable. Their services cover the city of Carlisle too. They can be reached via help line number 0800 970 5489.or in case you want them to get back to you, they provide that facility too. For that you need to fill out a form at For more details check out at

Debt Advisory Line is a member of DEMSA (Debt Managers Standards Association) and can be reached at 08001577254 and have an online presence at

With the debt burden rising at a highly alarming rate and bankruptcy being seen with horror and as degradation to one’s financial and social status with huge negative impact a mid way solution was found and introduced in the year 1986 by the UK government. This came as a great relief for people with burdening debt that they could not repay and were in the verge of collapsing. And this was termed as IVA (Individual Voluntary Arrangement).
If an individual in Carlisle fulfils the following criteria then he / she can go for an IVA
You must be either individual, a partner in a business or a sole proprietor.
Must have debts in £ and the amount should be minimum of £15000.
Must have a regular income to maintain the minimum living expenses and along with it have the capacity to make a repayment of £200 as minimum amount per month.
Above all, would not be in a position to repay the entire debt as this would be the main reason to initiate an IVA in Carlisle so that the creditors get back at least 25% of their debt.
There are many advantages in going for an IVA in Carlisle
If the debtor is in a very bad position to repay the debts, he can pay a maximum of 25% of the total debt and be relieved of it for the entire life.

He gets a breathing period to repay the debts in a span of up to 5 years time. He can repay them slowly in monthly installments.

It does not involve your home and other secured property and you can enjoy doing your business as usual.

Your insolvency and the repayment methods will be a closely guarded secret that will be known to the creditors, IP and the court. It will not be made publicly known through any means.

Step-wise initiation of IVA in Carlisle
After analyzing the details if you find that it is suitable for you then you can chalk out the plan to initiate an IVA. For this you need a licensed IP (Insolvency Practitioner).
He then collects the necessary information from you like the details of your debts, the creditors, the reason for becoming insolvent, your assets and liabilities, current disposable income, etc. Remember, he needs to be satisfied to initiate an IVA as he would be your representative and you would not be dealing with the creditors directly.
Based on the information he calculates how much you can be able to repay and what would be your per month affordability.

Then on, he prepares the agreement with all these information and conditions.
If they are acceptable to you, you sign it and he then intimates the court and if there is any legal case against you raised by any creditor, the IP gets an Interim Order. With this, no legal action can be taken against you for the debts.
A date is fixed for the meeting of all creditors and accordingly the IVA is circulated among them.
On the day of the meeting, the debtor needs to be present at the venue. A voting is done and if 75% creditors vote is in favor of it, the IVA comes into effect. Or otherwise a second date is set for the meeting.
And thereon the debtor has to make the monthly payment to the IP who then distributes it among the creditors. And finally you are a debt-free person.

Post a comment