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The Self-Employed IVA Process

A self-employed Individual Voluntary Arrangement (IVA) is a significant debt solution that can help you continue trading, avoid bankruptcy, and ultimately pay off only a proportion of your unsecured debts. Here’s how we at Payplan can help you.

Self-employed Debt Help Form

Payplan’s self employed advisory team will help you restructure your debts to ease cash flow and allows you to continue to trade. We offer assistance to sole traders partners and limited companies.

After speaking to a PayPlan specialist about your debt, you’ll complete a full debt counselling session to ascertain that a self-employed IVA is the right debt solution for your needs. If a self-employed IVA is right for you, we will refer you to our associated company, PayPlan Bespoke Solutions. They aim to 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 both the business’s debts and your personal finances – your income, expenditure, assets and creditors – and then work together to establish an income and expenditure for the next 12months. PayPlan Bespoke will then present this proposal to show the creditors that the business is viable and an IVA will be a sustainable debt solution for you to enter into.

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 Bespoke Solutions will assign an experienced case officer to you so you always get the support you need, and have a constant point of contact should you have any problems.

Self-Employed IVA Process – Suitability

If a self-employed IVA isn’t the most appropriate option, we will assess your situation to see if an alternative solution is more appropriate.

Each situation is different and we will always look at the individual case to help you choose the most suitable option.

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 316 1833 or use our debt help form, and your free debt help can begin straight away.

More Information On Self-Employed IVAs

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