{"id":169541,"date":"2024-08-29T11:17:22","date_gmt":"2024-08-29T10:17:22","guid":{"rendered":"https:\/\/opusllp.com\/restructuring-insolvency\/?page_id=169541"},"modified":"2024-11-28T09:23:28","modified_gmt":"2024-11-28T09:23:28","slug":"individual-voluntary-arrangement-iva","status":"publish","type":"page","link":"https:\/\/opusllp.com\/restructuring-insolvency\/individual-voluntary-arrangement-iva\/","title":{"rendered":"Individual Voluntary Arrangement (IVA)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"169541\" class=\"elementor elementor-169541\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-926e0d9 elementor-section-height-min-height elementor-section-content-middle whitetext elementor-section-items-bottom elementor-section-boxed elementor-section-height-default sc_fly_static\" data-id=\"926e0d9\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cdea38a sc_content_align_left sc_layouts_column_align_left sc_layouts_column sc_inner_width_none sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"cdea38a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-77cf191 whitetext animated-slow animation_type_block sc_fly_static elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"77cf191\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:&quot;800&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Individual Voluntary Arrangement<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ee58aea sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"ee58aea\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-c0b846e elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default sc_fly_static\" data-id=\"c0b846e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-b538eb8 sc_content_align_left sc_layouts_column_align_left sc_layouts_column sc_inner_width_none sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"b538eb8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-53f22bd animated-slow animation_type_block sc_fly_static elementor-invisible elementor-widget elementor-widget-text-editor\" data-id=\"53f22bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:&quot;800&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<big>An IVA is a legally binding agreement between an individual and their creditors. It allows an individual to reorganise their financial affairs and takes away the devastating stress caused by being under sustained financial pressure from the people to whom they owe money.<\/big>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8056c11 sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"8056c11\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-67eb8aa sc_inner_width_none sc_content_align_inherit sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"67eb8aa\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-0ce7689 elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default sc_fly_static\" data-id=\"0ce7689\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-9f4508f sc_inner_width_none sc_content_align_inherit sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"9f4508f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-0f6b68c sc_content_align_center sc_layouts_column_align_center sc_layouts_column sc_inner_width_none sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"0f6b68c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-118a127 animated-slow animation_type_block sc_fly_static elementor-invisible elementor-widget elementor-widget-qi_addons_for_elementor_button\" data-id=\"118a127\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:&quot;800&quot;}\" data-widget_type=\"qi_addons_for_elementor_button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<a class=\"qodef-shortcode qodef-m qodef-qi-button qodef-html--link qodef-layout--outlined qodef-type--standard qodef-size--full qodef-icon--right qodef-hover--icon-move-horizontal-short\" href=\"https:\/\/opusllp.com\/contact-us\/\" target=\"_self\">\n\t<span class=\"qodef-m-text\">Contact Us<\/span>\n\t\t<span class=\"qodef-m-icon qodef--icon-color-set\">\n\t\t<span class=\"qodef-m-icon-inner\">\n\t\t\t<i aria-hidden=\"true\" class=\"fas fa-arrow-right\"><\/i>\t\t\t\t\t<\/span>\n\t<\/span>\n<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-f3257c4 sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"f3257c4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-651d71d4 elementor-section-boxed elementor-section-height-default elementor-section-height-default sc_fly_static\" data-id=\"651d71d4\" data-element_type=\"section\" data-e-type=\"section\" id=\"intro\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-587699fc sc_inner_width_none sc_content_align_inherit sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"587699fc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-652ec515 sc_content_align_left sc_layouts_column_align_left sc_layouts_column sc_inner_width_none sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"652ec515\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-64bf443d animated-slow animation_type_block sc_fly_static elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"64bf443d\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:&quot;600&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is an Individual Voluntary Arrangement?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-62eede87 sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"62eede87\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-528815a3 animated-slow twocol animation_type_block sc_fly_static elementor-invisible elementor-widget elementor-widget-text-editor\" data-id=\"528815a3\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:&quot;600&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Individual Voluntary Arrangement (IVA) procedure was introduced by the Government in 1986 as an alternative to bankruptcy; it allows people take control of their debts and negotiate a deal with their creditors leading eventually to a safe and secure financial future free of debt.<\/p><p>An IVA freezes interest on unsecured debts and allows an individual to agree with their creditors that they will repay either all of their debts or a percentage of them over a number of years.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f2cc200 sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"7f2cc200\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8e9bd86 leftaligned animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default animation_type_block sc_fly_static elementor-invisible\" data-id=\"8e9bd86\" data-element_type=\"section\" data-e-type=\"section\" id=\"intro\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeIn&quot;,&quot;animation_delay&quot;:&quot;1000&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7a3aa4dd sc_content_align_left sc_layouts_column_align_left sc_layouts_column sc_inner_width_none sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"7a3aa4dd\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-14ddd593 sc_fly_static elementor-widget elementor-widget-heading\" data-id=\"14ddd593\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is the process?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5bedc8e sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"5bedc8e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-822bd69 sc_fly_static elementor-widget elementor-widget-text-editor\" data-id=\"822bd69\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The debtor must make a full disclosure to the Nominee of all their assets and liabilities. The insolvency legislation requires a debtor to prepare the proposal to their creditors with the help of a licensed insolvency practitioner (IP), who is called their Nominee.<\/p><p>The proposal put to the creditors must show that they will make a better recovery by agreeing to the IVA than if the individual is made bankrupt instead. The proposal is confidential and the debtor remains in control of their assets, but the conduct of the IVA is overseen by an IP, who is known during the process as the Supervisor. This is usually the same IP who acted as the Nominee.<\/p><p>An individual can put proposals for an IVA to their creditors if they have already been declared bankrupt or if they have been presented with a Bankruptcy Petition by a creditor. If the debtor is self-employed and has a viable business, they can continue to trade.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4aac6c7 leftaligned animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default animation_type_block sc_fly_static elementor-invisible\" data-id=\"4aac6c7\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeIn&quot;,&quot;animation_delay&quot;:&quot;1000&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-62cdff3 sc_content_align_left sc_layouts_column_align_left sc_layouts_column sc_inner_width_none sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"62cdff3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9352477 sc_fly_static elementor-widget elementor-widget-heading\" data-id=\"9352477\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are the payment terms for an IVA?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bf726a9 sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"bf726a9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d4da86 sc_fly_static elementor-widget elementor-widget-text-editor\" data-id=\"9d4da86\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>There are no set rules for an IVA, so there is no minimum or maximum payment percentage and no limit to the duration. Whilst certain creditors such as\u00a0<a href=\"https:\/\/www.gov.uk\/government\/organisations\/hm-revenue-customs\" target=\"_blank\" rel=\"noopener\">HMRC<\/a>\u00a0have accepted norms that they will tolerate, this process is a matter of negotiation and depends entirely on an individual\u2019s personal circumstances.<\/p><p>Opus is committed to giving the best advice to financially stressed individuals and guiding them in formulating a proposal, which meets the required threshold of being fair, fit and reasonable and, crucially is achievable. Getting this difficult balance right is vital for all concerned.<\/p><p>Opus has a number of\u00a0<a href=\"https:\/\/opusllp.com\/about-us\/corporate-governance\/\" target=\"_blank\" rel=\"noopener\">IPs<\/a>, who specialise in personal insolvency, so that we are able to carry out the role of Nominee and once appointed as the Supervisor of the Arrangement.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-eef3b35 leftaligned animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default animation_type_block sc_fly_static elementor-invisible\" data-id=\"eef3b35\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeIn&quot;,&quot;animation_delay&quot;:&quot;1000&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fae9ae8 sc_content_align_left sc_layouts_column_align_left sc_layouts_column sc_inner_width_none sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"fae9ae8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-945bf10 sc_fly_static elementor-widget elementor-widget-heading\" data-id=\"945bf10\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The pros and cons of an IVA<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-872bb5d sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"872bb5d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-469612a sc_fly_static elementor-widget elementor-widget-heading\" data-id=\"469612a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">The advantages<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a351aac sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"a351aac\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f65be42 sc_fly_static elementor-widget elementor-widget-text-editor\" data-id=\"f65be42\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>Flexibility \u2013 there is no fixed time limit and no minimum percentage repayment to creditors.<\/li><li>Potential to write off large amounts of outstanding debt.<\/li><li>Creditors included in it are bound by the terms of the IVA if it is approved by 75% of the total value of creditors who vote, even if they vote against it.<\/li><li>Affordable monthly payments, leaving sufficient income to live on.<\/li><li>All legal action by creditors included in the IVA will be stopped.<\/li><li>Creditor contact is with the IVA Supervisor, not the debtor.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8aefcdb sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"8aefcdb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ecc1912 sc_fly_static elementor-widget elementor-widget-heading\" data-id=\"ecc1912\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">The disadvantages<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5bdcde7 sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"5bdcde7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-db4888d sc_fly_static elementor-widget elementor-widget-text-editor\" data-id=\"db4888d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>If the IVA fails, you could be declared bankrupt.<\/li><li>Your credit score will be adversely affected.<\/li><li>IVAs are recorded on a public register.<\/li><li>Creditors aren\u2019t obliged to agree to an IVA request but will be bound by it if it is agreed by 75% of the creditors who vote.<\/li><li>There may be restrictions on your expenditure for the period of the IVA.<\/li><li>Secured creditors with a charge over your assets such as mortgage lenders cannot be bound by an IVA.<\/li><li>You may have to release some of the equity in your property for the benefit of your creditors. A re-mortgage to facilitate this may be at higher interest rates. If this is not possible you may have to sell your home or extend the term of the IVA by at least a further 12 months.<\/li><li>The terms of an IVA may lead to a period when repayments are not made against certain debts, such as loans. This could lead to the debtor falling into arrears or their arrears increasing. Where this possibility exists, the debtor will be told when payments will be made against these debts.<\/li><li>Only some of your unsecured debts are included and any other remaining debts will still be outstanding. The following debts are excluded and will continue to be payable in full:<ul><li>Mortgages<\/li><li>Debts incurred through fines<\/li><li>Student loans<\/li><li>Court fines<\/li><li>Social fund fines<\/li><li>Hire purchase agreements<\/li><li>Child support arrears<\/li><\/ul><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e5cb35f leftaligned animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default animation_type_block sc_fly_static elementor-invisible\" data-id=\"e5cb35f\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeIn&quot;,&quot;animation_delay&quot;:&quot;1000&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c6f7125 sc_content_align_left sc_layouts_column_align_left sc_layouts_column sc_inner_width_none sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"c6f7125\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b96c453 sc_fly_static elementor-widget elementor-widget-heading\" data-id=\"b96c453\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Debt advice<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-524b165 sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"524b165\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a77f3c sc_fly_static elementor-widget elementor-widget-text-editor\" data-id=\"0a77f3c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The faster you get help, the more options will be available to find a workable solution to relieve your stress and restore your life back to normal as quickly as possible.<\/p><p>You can find information on all options for resolving debts in England and Wales from the\u00a0<a href=\"https:\/\/www.gov.uk\/options-for-paying-off-your-debts\" target=\"_blank\" rel=\"noopener\">Insolvency Service<\/a>. For debtors in Scotland, assistance in finding debt solutions can be\u00a0<a href=\"https:\/\/www.mygov.scot\/support-money-debt\" target=\"_blank\" rel=\"noopener\">accessed here<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6dc0af5 leftaligned animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default animation_type_block sc_fly_static elementor-invisible\" data-id=\"6dc0af5\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeIn&quot;,&quot;animation_delay&quot;:&quot;1000&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c25c5e6 sc_content_align_left sc_layouts_column_align_left sc_layouts_column sc_inner_width_none sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"c25c5e6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fc8158a sc_fly_static elementor-widget elementor-widget-heading\" data-id=\"fc8158a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Debt counselling services: Money Helper<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-37a9f81 sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"37a9f81\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-86ae2e9 sc_fly_static elementor-widget elementor-widget-text-editor\" data-id=\"86ae2e9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Free and impartial debt counselling services are available from Money Helper.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c0d6ca sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"9c0d6ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-87af133 sc_fly_static elementor-widget elementor-widget-button\" data-id=\"87af133\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.moneyhelper.org.uk\/en\/money-troubles\/dealing-with-debt\/use-our-debt-advice-locator\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-globe\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Click here to go to Money Helper<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-70d711e sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"70d711e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-865528e sc_fly_static elementor-widget elementor-widget-text-editor\" data-id=\"865528e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Occasionally, where appropriate, we will refer clients to other agencies such as\u00a0<a href=\"https:\/\/www.citizensadvice.org.uk\/\" target=\"_blank\" rel=\"noopener\">Citizens Advice Bureau<\/a>\u00a0or debt advisory charities. These other sources of advice may be paid by creditors, especially banks to help debtors deal with their financial difficulties. We do not receive any payment for these referrals.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f81a3c3 leftaligned animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default animation_type_block sc_fly_static elementor-invisible\" data-id=\"f81a3c3\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeIn&quot;,&quot;animation_delay&quot;:&quot;1000&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-30387f9 sc_content_align_left sc_layouts_column_align_left sc_layouts_column sc_inner_width_none sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"30387f9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b762f2f sc_fly_static elementor-widget elementor-widget-heading\" data-id=\"b762f2f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Regulated personal insolvency advice for personal debt and Individual Voluntary Arrangements (IVAs)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-af59685 sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"af59685\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ade2e4 sc_fly_static elementor-widget elementor-widget-text-editor\" data-id=\"3ade2e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>For more information on Individual Voluntary Arrangements, we offer an initial free consultation to review the situation and make recommendations on the best way forward. Whilst the initial consultation is free, we are a profit making organisation and as such, if we believe we can assist a fee will be payable.<\/p><p>If we think that an Individual Voluntary Arrangement is the best route forward, our specialists can support the individual at every step of the way through the process.\u00a0Contact our Head Office on\u00a0<a href=\"tel:+44 (0) 20 3326 6454\">+44 (0) 20 3326 6454<\/a>\u00a0to arrange a no obligation and confidential call with one of our Partners.<\/p><p>For information on fees in relation to Individual Voluntary Arrangements,\u00a0<a href=\"https:\/\/opusllp.com\/restructuring-insolvency\/creditor-fee-guide\/\">click here<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2d3d37b1 elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default sc_fly_static\" data-id=\"2d3d37b1\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-322c7215 whitetext sc_inner_width_none sc_content_align_inherit sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"322c7215\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-51c5af65 animated-slow animation_type_block sc_fly_static elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"51c5af65\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:&quot;600&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Keeping informed<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6cc8e278 sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"6cc8e278\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67fa8897 animated-slow animation_type_block sc_fly_static elementor-invisible elementor-widget elementor-widget-text-editor\" data-id=\"67fa8897\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:&quot;600&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Sign up to our monthly newsletter sharing the latest insights and industry news<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-6bd4f617 ctabutton sc_inner_width_none sc_content_align_inherit sc_layouts_column_icons_position_left sc_fly_static\" data-id=\"6bd4f617\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5eb955ee elementor-align-right animated-slow ctabutton animation_type_block sc_fly_static elementor-invisible elementor-widget elementor-widget-button\" 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