IVAs - Documentation required
Introduction
This is a list of the documentation usually required when proposing an IVA. Obviously, this will be in addition any information form you will complete.
- Property Valuation
- Or if not, sales particulars of similar properties for sale in the same street or local area (from estate agents or newspapers).
- Mortgage Statement
- Issued annually, usually following December 31st or March 31st.
- Endowment Policy Surrender Value
- Telephone insurance company and ask for confirmation of current surrender value of the policy (verbal followed by written).
- Car Finance / HP Agreement
- Original agreement (or a copy) and any recent letters.
- Salary / Wage Payment Advices
- At least three months payslips (ideally consecutive) for yourself and your spouse (even if the spouse is not liable for any debts)
- Creditor Statements / Letters
- A statement or letter that shows the amount currently owed to each creditor and your current account/reference number with them.
- If the latest amount is on a solicitors/collector's letter, it would be helpful to also have an older letter directly from the creditor to ensure that the reference number is correct. (N.B. collectors usually use their own reference numbers).
- Reasons for Financial Difficulties
- A personal history (in as much detail as possible) that explains the setbacks you have encountered leading to your present financial position.
- Debt escalation may be the main/sole reason but there is no doubt that creditors can relate more readily to identifiable reasons such as illness, unemployment, loss of spouse's income, etc.
- This explanation may be as imprtant in encouraging your creditors to accept your repayment Proposal as the amount that they will receive.
Sole Traders / Partnerships Debt Advice Menu
- Sole Traders and Partnerships enquiry form
- What is an IVA?
- Individual & Personal Insolvency
- Individual Insolvency Register
- The IVA procedure
- IVAs - Facts and how they work
- IVAs - Frequently asked questions
- IVAs - Estimated completion timescale
- IVAs - Documentation required
- Download IVA questionnaire form
- What about my banking options?
- What do we do?
- Reasons for business failure
- Exactly what happens next...
- Why a loan won't help
- What is bankruptcy?
- How to deal with 'bad cheques'
- What if you have equity in your property?
- Beware of informal debt consolidation
- Non-dischargeable debts
- How do you qualify for an IVA?
- Five point debt action plan
- Debts under £5000?
- Trust Deeds (Scotland only)
- Protected Trust Deeds (Scotland only)
- Bailiff guide - know your rights
- The world of credit repair - main menu
IVA Advice Menu
- IVA (Individual Voluntary Arrangement) Overview
- The IVA procedure
- What is an IVA?
- IVA Enquiry Form
- How to start an IVA
- Who can an IVA help?
- IVA's - Facts & how they work
- Benefits and Advantages of an IVA
- Who can an IVA help?
- IVA - Help and information
- How an IVA works
- IVA's - Frequently asked questions
- IVA - Estimated timescale
- The IVA approval process
- The IVA criteria
- Bankruptcy or IVA
- IVA - What are the costs involved?
- IVA - The documentation required
- IVA - Download forms
- Sample IVA proposals for PAYE worker
- IVA - Guide to creditors Fees
- IVA - Standard Terms & Conditions
- Individual Insolvency Register
IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]