When you are looking at fixing your debt problems, the first thing you should consider is making sure that the provider you use is perfect for yourself.
How do I know?
Your insolvency practitioner will follow a strict code of conduct and ensure that the arrangement you agree is fair to the people you owe money to and that you can make payments into the plan for the term of the IVA.
We compare all IVA companies to create a panel of companies, based on a very strict criteria. This ensures that not only do we get rave reviews, recommendations from friends and family and great press; it guarantees that your IVA will be set up to suit you perfectly.
What qualities does the best IVA company in the UK have to have?
- Be completely free – If you arrange an IVA through IVA Advice, you will not pay any upfront fees for an Individual Voluntary Arrangement. Ever.
- Be highly reviewed – The best indicator of how a company will perform is based on what their customers say about them. The best IVA companies are highly rated, this will usually mean future experiences with that company will also be high quality. If a company has negative reviews, or even a lack of positive reviews – we will not use them. Independent reviews must be visible on an established review website, such as Google or Trustpilot.
- Offer the lowest monthly payments – Some IVA companies start their minimum payments at levels which are unaffordable for people that are struggling with debt, this includes some debt charities and debt management companies. It is important that the IVA’s available have a very low minimum monthly payment, so most people can afford the monthly repayments even if their situations have recently changed.
- Be well established – We will not deal with any companies which lack experience or have not been established for a number of years. An IVA is a legally binding debt solution, the IVA proposal has to be perfect before it reaches you. This takes a lot of experiences and being a well established company goes hand in hand.
- Be online – We only deal with online companies. If the IVA company is looking for a home visit or asking customers to visit their offices, they will not be on our panel.
- Be confidential – Debt management is a private issue. We make sure that our companies keep your information 100% private. They will not send anything to you without your permission. They will not share your details. They will not discuss anything with your partner, family or your work.
Top Tip – If you are a resident of Scotland and you are looking for an IVA. You will need to see our Trust Deed – Scottish IVA page here.
What is an IVA company?
An IVA company is responsible for arranging Individual Voluntary Arrangements (IVA’s). They collect information about your finances and organise an IVA through a qualified Insolvency Practitioner (IP).
Top 10 IVA Companies
The top 10 IVA list of companies advertised online are solely based on volume of business. We would recommend that you look into all the different IVA companies and make sure that you pick an IVA business which suits your personal circumstances. We can help you with this process, just follow our free IVA calculator.
What about charities?
We hear mixed reviews about charities. The unfortunate truth is that IVA charities charge Insolvency Practitioner fees, just like picking a private company. This is why most people would prefer to pick a top rated private company.
IVA companies to avoid
From time to time we receive enquiries from people who have arranged IVAs through other websites and dealt with Insolvency Practitioners that they are not happy with. Unfortunately we can not help to put this situation right, unless you are looking for a new IVA. Although from time to time, we may notify you of bad IVA companies.
If you would like to complain about an Insolvency Practitioner – click here for the Government website or contact your local Citizens Advice Bureau.