What Are The Characteristics Of A Good IVA Company?

Helps you consider the alternatives

A great sign that you are considering a good IVA company is that they will let you know if their solution is right for your needs. The best IVA companies in the UK are determined to help people with their debt problems, even if this means suggesting an alternative to their chosen plan.

The main goal for an insolvency practitioner is to help you escape from your problems. If a company can’t help you out and is happy to help point you to some alternatives, then you can be sure that they are a good IVA company.

Doesn’t offer its services for free

Although most of the top IVA firms in the UK will offer free advice, they will still charge you for an individual voluntary arrangement. This is because they need to earn enough money to pay their involuntary practitioner and keep offering their services.

However, it’s a good idea to keep in mind that free services aren’t all bad. Some can offer excellent advice and even help you pay off small amounts of your overall debt. But when it comes to quality, a paid service is almost always going to offer you the best debt solutions.

Just make sure that you aren’t paying large upfront fees, as this is usually a sign that the IVA service isn’t truly dedicated to helping you. The most common way IVA companies will charge you is through monthly payments.

Has a fixed office or address

Almost every company or business in today’s market will have an online presence of some sort. But not every company will have a physical address or fixed office. One of the best ways to spot an IVA company worth your time is to check if it has a fixed address.

It is far harder for a business to be held accountable for its actions if it doesn’t own a physical address. This means you should try to avoid online-only services as more often than not, they just won’t be able to compare with in-person services.

You should also consider whether or not in-person meetings with insolvency practitioners will be beneficial to you. Some people find that meeting in person can truly help them find the best debt solution for their circumstances and can truly improve a debt management service.

What To Consider When Choosing An IVA Company

Your individual circumstances

Before you start negotiating an individual voluntary arrangement, consider your circumstances. Always ask yourself whether or not you can outright pay your debt off before you consider working with an IVA company.

You should also always check that you can afford the IVA companies fees before you sign a legally binding agreement. Although they will almost always offer cheaper deals than just paying your debt, you still need to consider any fees and how much you can afford.

Thankfully, most of the top IVA and debt management companies will work around your individual circumstances. Insolvency practitioners should always consider your lifestyle and adapt the debt solution to suit your needs.

The fees

One of the most important factors you will need to consider when finding the best IVA company for your needs is the fees. As stated above, a warning sign of an unethical debt solution service is a large up-front fee.

Most IVA services will charge you small and manageable monthly payments for their services, which is perfect if you are money conscious. Be sure to take the time to find an IVA that you can afford – this way, you can avoid finding yourself in more debt!

Customer reviews

Customer reviews can be a great way to determine how successful an IVA company truly is. Higher reviews are typically indicative of a decent IVA service, whereas lower reviews are a sign that it might not be all it’s cracked up to be.

It’s also highly recommended to check what people are saying and not just their overall star rating. Some of the issues people have with a company may not be shared by you. By reading the reviews fully, you will be able to get a brief glimpse into how a specific company operates.

Use IVA Helpline today to learn more about choosing an IVA company

With so many IVA companies in the UK, each with its own range of debt solutions, it can be hard to choose the right one for you. Here at IVA Helpline, we aim to help you find the best solution for any debt problems you may be facing.

You don’t need to spend hours of your time comparing the many companies available as our services are designed to be quick and accessible. We will compare a selection of the top IVA companies and find you a solution that works for you!

Want more information? Our friendly team are just a phone call away – you can reach us at 0800 123 4567!