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Self-Employed IVA

Self-employed? Manage your debt in affordable payments with a self-employed IVA from PayPlan

Running your own business can be hard work and you can do without the added struggle of managing a debt. That’s why PayPlan has a debt management solution tailored especially for the self-employed. It’s called a Self-Employed IVA (Individual Voluntary Arrangement).

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How can a PayPlan self-employed IVA help

A PayPlan Self-Employed IVA is less restrictive than bankruptcy as it allows you CONTINUED CONTROL OVER YOUR BUSINESS  finances, while giving you peace of mind and a more positive financial future.

In short, it’s a clear and straightforward way to clear your debt with regular, affordable payments. A Self-Employed IVA is a legally binding agreement between you and your creditors. It helps you to avoid bankruptcy or liquidation by you taking responsibility for PAYING OFF PART OF YOUR DEBT over a fixed period. At the end of the period (usually around five years) and providing you keep to your agreed repayment schedule, your creditors agree to WRITE OFF THE OUTSTANDING BALANCE of your debt.

In many instances, a Self-Employed IVA can cancel out a significant proportion of an unsecured debt and works to prevent further demands and threats from your creditors.

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Is a self-employed IVA right for me?

For many people like you, a PayPlan Self-Employed IVA is the preferred solution. It helps avoid bankruptcy and the negative impact it can have on your business future and lifestyle. If you are looking for a debt management plan for your business this kind of IVA enables you to carry on running your business and, most importantly, allows you to enjoy living your life outside of work.

A PayPlan Self-Employed IVA is available to:

  • Sole Traders
  • Construction Industry Scheme (CIS) 
  • WorkersPartnershipsLimited Companies
  • Buy-to-let landlords

To qualify for a Self-Employed IVA, you must have a viable business with a debt of £10,000 or more. It’s a practical, easyto-understand debt solution that enables you to manage your debt WITHOUT WORRY or despair. (Self-Employed IVAs are notavailable in Scotland – read about our alternative debt solutions for Scottish businesses).

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Check out your other options

Before embarking on a Self-Employed IVA, our financial experts will advise you about the other options open to you. We provide a VARIETY OF DEBT SOLUTIONS all designed to help you take control of your business and your future. We offer impartial advice, tell you about the pros and cons of each and explain what effects your decision can have on you, your business and your future finances.

Specialists In Self-Employed IVAs and Business Debt

We have a team of 35 people who currently handle 300 new clients each month, all headed by a Chartered Accountant and licensed Insolvency Practitioner with over 15 years’ experience in Personal Insolvency.

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 advice 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.

How about the ‘small print’?

At PayPlan, we believe our clients should take responsibility when dealing with their debts. But we’re always here to offer free advice whenever you call. By taking control of your debt, you can look forward with confidence, dealing with your business and ENJOYING LIFE AGAIN.

Before taking on a Self-Employed IVA, you should be aware that failure to maintain your agreed repayment terms may result in your creditors taking steps towards making you bankrupt and reapplying interest and charges. In some cases, creditors may not even approve a Self-Employed IVA.

Starting on a Self-Employed IVA means you will be entered into a public register and your credit rating, and as a consequence your business, could be adversely affected. Your monthly payments may be lower but your repayment period could be extended – this will depend on the percentage of written off debt your creditors are willing to accept.

A PayPlan Self-Employed Individual Voluntary Arrangement can only be offered to UK residents (except Scotland).

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Payplan Self-Employed IVa client reviews

We rate 4.6 out of 5 based on 23 Self-Employed IVA reviews

Self Employed IVA (Bespoke)
5 out of 5
PayPlan have been helpful and understanding at every point of contact, and in helping me manage my debt. Couldn’t ask for more, and it’s such a relief to have my debt under control.

Self Employed IVA (Bespoke)
5 out of 5
Was a relief to sort out the debt with this company, as very understanding

Read all Self-Employed IVA reviews

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
See examples IVA advice

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Here at PayPlan, we understand the effect that debt can have on your life, but we believe that living with debt shouldn’t have to mean living in despair.

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