How long does an IVA Proposal take to be Prepared?

The actual time period of preparing an IVA depends on several factors. However, preparing an IVA can be done extremely quickly if it is needed. A big majority of our IVA’s at Just Debts are regularly returned within 10 days time if all the pertinent information is already gathered. However the overall process, often times lies in the hands of the debtor.
There are no time limits that are set in setting up an IVA. In order to assure that the process runs incredibly smooth, and hassle free we have included a few basic steps for you to follow.

1. Research IVAs- Before you file for an IVA it is pertinent that you know what it is exactly, and what it pertains to. An IVA specialist at Just-debts would be more then obliged to help you with this process.
2. Open a basic bank account if you don’t already have one.
3. Ensure you have all the paperwork that you are going to need in order to file an IVA accessible. Such paper work as your proof of identity and any underlying outstanding debts that you have are required.
4. Keep your creditors informed. Allow your IVA specialist to speak on your behalf, this enables them the opportunity to rectify your credit situation instantly.
5. Read all documentation over extensively. You need to know the arrangements that you agreed upon with your Advisor. If you are not aware of the process, it may seem like it is taking longer then you believe it should.
6. Be prepared to listen to any and all modifications that creditors will try to impose on you. You are not in the IVA agreement until you have completed the meeting with a specialist; this includes negotiating any terms that creditors may have stated.

Following a few of these basic steps will allow the process of filing for an IVA to be shortened in half.