1-2-1 Voluntary ArrangementWe will give you the tools to make it work for youOur 1-2-1 Voluntary Arrangement is different to standard IVA's which we do not advocate for the reasons set out in Understanding Debt & the things they do not tell you. We recommend that you read this to fully understand the difference and why we are unique. 10 reasons why our 1-2-1 Voluntary Arrangement is right for you:1 You will never be in any danger of going bankrupt if you are not able to adhere to the arrangement. 2 Your name will not appear on any Public Register or Media Publication. 3 You will not have to pay inflated fees to your IP. 4 Your family home will never be at risk. 5 You will not be subjected to in-depth financial scrutiny or have to 'qualify'. 6 You remain in full control of your finances at all times. 7 You will not be forced to pay additional monies into the 1-2-1 IVA through an increase in overtime or benefits. 8 You will not be forced to repay any money spent that the IP did not agree was a reasonable expense. 9 You retain your dignity and self esteem. 10 Your credit history will not be impaired in the same way that your IP approach would have.
Setting up is easyStep 1: As with a Debt Management Plan we must initially request that creditors freeze all interest and charges. This is our starting platform and is fundamental to a successful 1-2-1 Voluntary Arrangement. Step 2: Again, using tried and tested negotiating techniques, we further request that creditors accept reduced monthly repayments which can be comfortably supported from your disposable income after all priority payments have been taken into consideration. We support this request by providing creditors with a copy of your Personal Budget Sheet (PBS) as evidence to your overall financial position. Step 3: We must now prove to creditors that we are committed to resolving your long term debt problems by firstly maintaining financial stability (they have given us the tools to do this by freezing interest and charges) and secondly by offering regular updates as to your financial position. We maintain this position as long as we feel it is necessary (usually 12-48 months), but every pound that you pay reduces your debt accordingly. Step 4: Using a proportion of the equity available in your property, we draft together a proposal to release some of this available equity in order to make 'Full and Final Offers of Payment' to your creditors. This is an 'In Principle' offer only and is made before any application for further finance or remortgage takes place.
Step 5: If our offer is accepted a remortgage application is made, your creditors are paid only the amount agreed and all the remaining debt is written off. If we are unsuccessful at this stage then we simply revert to conditions applied in step 3 above and reassess our proposal. We will approach your creditors as many times as necessary in order to achieve a settlement agreement. We do not charge you for this service! Call
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1-2-1 Debt Solutions is a trading style of
Your Debt Wizard Ltd |