The Payplan Self-Employed IVA Process
After speaking to a Payplan specialist about your business debt, you'll complete a full debt counselling session to ascertain that a self-employed IVA is the right debt solution for your needs. Representatives of our team meet most of our clients face-to-face to explain their debt resolution options and to assess their business viability before they set up a self-employed IVA. The meeting can either be in Payplan's offices or at a location nearer to the client's home.
Self-Employed IVA Process - Debt Counselling Session
We look at the business's debts and finances - your income, expenditure, assets and creditors - and complete a cash flow projection for the following twelve months. Payplan use this proposal to show the creditors that the business is viable and you are then able to use this as a budget for the year.
All our self-employed IVAs take into account any seasonal fluctuations in the business, which provides necessary flexibility in the proposal and improves the sustainability of the IVA plan submitted to the creditors.
Self-Employed IVA Process - Full Support
Once a self-employed IVA is arranged, Payplan assign a team of experienced Case Officers to the client so they always get the support they need, and have a constant point of contact should they have any problems.
Self-Employed IVA Process - Suitability
If a self-employed IVA isn't the most appropriate option, we will assess a client's situation to see if an alternative such as a DMP, Debt Relief Order, token payment, moratorium, selling of assets or bankruptcy is more appropriate.
Each situation is different and we will always look at the individual case to help each client choose the most suitable option for them.
Self-Employed IVAs - What Next?
As a next step, contact Payplan for free & immediate advice regarding self-employed IVAs. There may well be a number of debt solutions that are appropriate to your needs. Telephone free on 0800 280 2816 or use our debt help form, and your free debt help can begin straight away.
Unlike so many other debt management companies, here at Payplan we don't charge our clients any upfront fees for debt solutions such as Individual Voluntary Arrangements and Debt Management Plans, instead we receive our income primarily from the credit industry.
That is, your creditors recognise that our debt solutions are a sustainable and realistic strategy in getting you debt-free, and agree to arrangements that will typically complete with no fees charged to you.
