IVA Squirrel - Will an IVA stop creditors hassling me?

IVA Squirrel - Debt and IVA Advice from an IVA Expert

Will an IVA stop creditors hassling me?

	The short answer is yes. Once the IVA is in place, the creditors can no longer contact you by law. However, in order to proceed with an IVA, you will need to stop paying your creditors first. Once you have stopped paying them, the creditors will begin the usual procedure – ‘snotty letters’ will arrive, and possibly phone calls as well. If you are dealing with your IVA through a reputable company like Thomas Charles & Co Ltd, one of the services we will provide is to protect you from this kind of mud-slinging by responding to the creditors on your behalf. This will enable you to have as much peace of mind as possible during this potentially stressful time. However, it is worth mentioning that once your IVA is in place, if you fail to keep up the payments for no good reason, your creditors will be able to take other action against you, which could result in bankruptcy. Moreover, your home could still be at risk if not specifically excluded from your IVA proposals. Having said that, so long as you make every effort to do the best you can to make your monthly payments, and you have a good Insolvency Practitioner representing you, most problems can usually be ironed out.

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Find out if you can do an IVA:

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	This wizard will tell you whether the IVA is the right solution for you, what the monthly repayments would be and how much of your debt an IVA would write off. If an IVA isn't the right solution then the wizard will recommend 1 of 3 other possible options.