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Self-Employed IVA Case Studies

Thinking about a self-employed Individual Voluntary Arrangement (IVA) with Payplan? Take a look at how we’ve helped other self-employed people in these genuine Payplan case studies.

Case Study #1 – Dealing With Unpaid Tax

We helped a self-employed dental surgeon who had an excellent income but had fallen into over £250,000 debt due to owing tax over a 2-3 year period and separating from her husband.

The tax authorities were taking legal action which would have affected her business, possibly resulting in the loss of expensive equipment and a major contract with the NHS.

Due to the legal action against her, a DMP wasn’t an option but a self-employed IVA was. Based on her surplus income over a 5 year period, the IVA provided a better return than bankruptcy – so after extensive negotiation the tax authorities approved the IVA.

Case Study #2 – Dealing With Bankruptcy Threat

We at Payplan helped a partnership who ran a hairdressing salon, who contacted us only two weeks before their arranged bankruptcy hearing.

The business had suffered due to ill-health and they were using credit to pay for living expenses.  We arranged for the bankruptcy hearing to be postponed and put forward an IVA proposal.

We assured the creditors that the IVA would provide a better return, as the current economic climate may result in the business not realising its full value in sale.

The creditors approved the IVA and the bankruptcy petition was dismissed. The clients’ income improved and their home and salon weren’t sold – which almost certainly would have been the case with bankruptcy.

This client has since made every payment to their IVA.

Specialists In Self-Employed IVA Plans

With our expert knowledge and experience we are an ideal company to help you deal with your business debts.

Our experience covers all aspects of personal and business debts and we specialise in self-employed IVA’s, so we really can offer appropriate and considered advice to people struggling with business debts.

We understand the unique and complicated financial situations of business, so we take a holistic and comprehensive approach to addressing business debt.

We recognise that each business is unique and will consider all options, looking into multiple solutions for a client’s individual circumstances. We don’t charge clients for our services and they are under no obligation to use Payplan or any of our recommended solutions.

Plus, our results do speak for themselves:

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.

More Information On Self-Employed IVAs

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Example IVA

In this typical example, we arranged an IVA for our client who was struggling to repay his debts. His payments are now more affordable!

  • Debt: £20,000
  • Creditors: 3
  • Was paying: £520 per month
  • Now paying: £120 per month
  • Written off: £12,000
View all examples

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