Self-employed? Manage your debt in affordable payments with a self-employed IVA
Running your own business can be hard work and you can do without the added struggle of managing debt. A Self-Employed IVA (Individual Voluntary Arrangement) is a debt management solution tailored especially for the self-employed.
How can a self-employed IVA help you?
A 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 of time. 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 unsecured debt.
In many instances, a Self-Employed IVA can cancel out a significant proportion of unsecured debt and works to prevent further demands and threats from your creditors.
Is a self-employed IVA right for me?
For many people like you, a 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 solution that enables you to carry on running your business and, most importantly, allows you to enjoy living your life outside of work, a self-employed IVA could be right for you.
A Self-Employed IVA is available to:
- Sole Traders
- Construction Industry Scheme (CIS) Workers
- Partners within a Partnership
- Limited Companies
- Buy-to-let landlords
To qualify for a Self-Employed IVA with PayPlan Bespoke Solutions, you must have a viable business with a debt of £7,000 or more. It’s a practical, easy to-understand debt solution that enables you to manage your debt WITHOUT WORRY or despair. (Self-Employed IVAs are not available in Scotland – read about our alternative debt solutions for Scottish businesses).
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 advise on a VARIETY OF DEBT SOLUTIONS 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
Our associated company, PayPlan Bespoke Solutions have a large team who are handle a vast amount of cases 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.
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 IVA failing and your creditors could then take 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 onto a public register and your credit rating, and as a consequence your business, could be adversely affected. Your IVA monthly payments may be lower than your contractual payments but due to this reduction your creditors may request that your repayment period be extended.
A PayPlan Bespoke Self-Employed IVA can only be offered to UK residents (except Scotland).
*PayPlan refer clients to PayPlan Bespoke Solutions Limited and PayPlan Partnership Limited for IVAs.
Self-Employed IVA client reviews
Excellent hassle free service. Great peace of mind.
The staff have always been polite and helpful.
No problems encountered at all.