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How It Works

What Is An IVA?

An IVA is an agreement that is made with your creditors to pay off your debts over a set period of time and is one option you can use to pay off your debts. It is a formal, legal debt solution. This means it is approved by the court and your creditors have to stick to it.

An IVA is a form of insolvency but it is different from bankruptcy.

What Are The Benefits?

An IVA is often considered to be a great option for many people who find themselves in debt. Here’s why:

  • Have up to 80% of your unsecured debt legally written off
  • Reduce your monthly bill payments
  • Creditors are forced to stop all communication with you
  • Interest and late payment charges are instantly frozen
  • You make just one monthly payment for all of your debts
  • You will be completely debt free in just 60 months

IVA Qualifications

Debts That You Can Be Included

You can include any of the following debts in an IVA:

  • Credit Cards
  • Store Cards
  • Payday Loans
  • Overdrafts
  • Personal Loans
  • Lines Of Credit
  • Business Debt
  • Catalogues

If you owe money to other types of creditors then you can still file an IVA, but you cannot include those debts in your IVA. Click the link below to check if you qualify today.

Do I Qualify For An IVA?

In order to qualify for an IVA you must meet the following criteria:

  • You are £5,000 or more in debt
  • You owe money to two or more creditors
  • You can pay back a minimum of £75 per month
  • You are employed or self employed
  • You are a non home owner
  • You are £5,000 or more in debt
  • You owe money to 2 or more creditors
  • You can pay back at least £75/m
  • You are employed or self employed
  • You are a non home owner

IVA Example

UNSECURED DEBTS

  • Credit Card #1£10,500
  • Credit Card #2£2,000
  • Credit Card #3£5,000
  • Personal Loan£1,500
  • Store Card£4,500
  • Payday Loan£1,500
  • Overdraft£3,000
  • Total Owed£28,000

YOUR MONTHLY PAYMENTS

BEFORE IVA
£700

PER MONTH

AFTER IVA
£140

PER MONTH

Payments
Reduced By 80%

TOTAL OWED
£28K
NOW OWING
£8.4K
WRITTEN OFF
£19.6K

Introduction

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    In Writing: Funeral Compare, Rev Com Solutions Ltd, Churchill House, 57 Jubilee Road, Waterlooville, PO7 7RE

    By Telephone: 023 93877 880 (FAO: Complaints Manager)

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    FAQs

    Q: Is there an age limit?

    A: 18-90

    Q: Will you pass my data on?

    A: Only to the specialist that will call you and they will not pass your details on to any other 3rd party.

    Q: Can I call you?

    A: Yes, our specialist are available Monday – Friday 10.00am – 18.00pm

    Q: Do you advise and do I need to buy?

    A: No, all sales are non advised, this means we search the market and present you with options to choose from, if you don’t want to buy any of the plans presented you are under no obligation.

    Q: What if I have a medical issue?

    A: A: We have a wide range of plans available, if you are 50- 79, we guaranteed to accept you regardless of any medical issues.

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    Q: When I apply, what happens next?

    A: As soon as you hit “Compare Now”, One of our specialists will contact you with your available options.

    Phone – 023 93877 880

    Email – contact@Funeral Compare.uk

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    Here at Funeral Compare.uk our sole mission is to bring our customers “Value For Money Without Compromise”. Some of our partners are not on traditional comparison sites, so how can you be sure you are getting all the facts as well as the best price and most importantly making the right choice?

    That’s where we step in, we work with the Uk’s major providers, We’ll ensure you get the best VALUE for money, we believe you shouldn’t be blinded by the ‘lowest price promise’ as often once you've added all your requirements it rarely ends up being the cheapest price.

    Arranging life insurance shouldn’t be complicated, but unfortunately many of us find it is, which is why we’re here, helping you every step of the way and with Funeral Compare.uk, its quick, simple and can often be set up with one phone call.

    Our specialists work with you and have your best interests at the fore front of their mind.

    Remember, no matter what question you have, Call us on 023 9200 7895 Monday – Friday 10.00am – 18.00pm

    Pay’s out upon death, no matter when this happens.

    Will payout upon death within the agreed term the insurance is set up for. IE: 10 -25 years or until the age of 90 etc.

    Will payout if diagnosed with an illness specified by the insurer within the agreed term the insurance has been set up for.

    Designed for people aged 50 – 80, Guarantees to pay out a fixed lump sum upon death, no matter when this happens. This is a guaranteed acceptance insurance with no medical questions asked.

    Cash back available up to a maximum of £250 on policies over £85 per month, excludes whole of life and over 50’s life plans.

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