It is very common for people to get into a position where they can’t pay their debts. We recognise that coping with unmanageable debt is stressful and distressing.
Our friendly and approachable team members are experienced and also undergo continuous professional training. We make sure that all our team members understand how important it is to particularly recognise and help customers who for one reason or another may be vulnerable. The simple fact that you are struggling to cope with the pressures of unmanageable debt may mean that you find it is difficult to make rational decisions regarding your financial future. You are not alone. From the day you contact us until the day your IVA concludes we aim to be by your side supporting you on your journey to debt freedom. Bennett Jones prides itself on our exceptional customer service. If you have any questions or you require information about your IVA our friendly and approachable customer service team are always there to assist you. Don’t just take our word for it, read our unfiltered reviews from many of our existing clients.
Your IVA proposals team member will make sure that all the information and documents which are needed to explain your financial position to your creditors is assembled and reviewed. Once this is done, your IVA proposal will be prepared for you to review and agree on before it is sent to your creditors. Your proposals team member is there to explain to you how the IVA process works and also to answer any questions you may have. You will be given as much time as you need to make sure you are happy to proceed with your IVA and also to make sure that all your questions and any concerns you may have are dealt with and answered fully.
Once your IVA has been approved our IVA payments team will check that you are managing to maintain your IVA payments as agreed. If something unexpected occurs and you are struggling to make a payment our payments team are here to support you. If there has been simply an unexpected expense we will work with you to arrange a payment break of your IVA to allow you time to pay the expense. If there has been a long term change in your financial position we will work with you to find a solution that is tailored to your individual circumstances. Our long-established relationships with major creditors such as banks and credit card companies mean that we can generally count on their support if it is necessary to vary the terms of your IVA to take into account your changed circumstances.
If your circumstances change unexpectedly it may be necessary for us to ask your creditors to agree to vary the terms of your IVA. Bennett Jones has a team of people who work with our clients and creditors when these events occur. If you are faced with the need to vary your IVA our variations team member will help you to prepare the request which is to be made to your creditors. You may need to ask your creditors to agree to a permanent reduction in your IVA payments if your income or your partner’s income has unexpectedly decreased or on the other hand you may wish to ask your creditors to agree to an early settlement of your IVA if you have relative or friend who has offered to provide you with a lump sum payment for this purpose.
After you has been approved and you have started to pay your IVA contributions, your creditors are no longer able to contact you to request payment. However, you may still find during the first few months of your IVA that some of your creditors continue to contact you. Because of this we have a team of peoples who are ready to contact any of your creditors who continue to communicate directly with you. Your creditors will stop contacting you, our creditor liaison team will ensure that these creditors update their records so that they only communicate with us for the remainder of your IVA term.
Annual Income and Expenditure Review
Each year after your IVA has been accepted you are expected to complete a review of your income and expenditure with us. This is an opportunity for us to check with you that your payments are set at an affordable level for your current circumstances. Our annual review team members will help you to complete the review and answer any questions you may have. The team will also prepare a brief report to your creditors to update them on the progress of your IVA.
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This allows us to help you find the right solution for your circumstances and individual needs.
Why choose Bennett Jones?
Bennett Jones has helped thousands of people solve their debt problems. We understand how stressful and difficult life is when you can’t pay your debts and your bills.
You can trust Bennett Jones to help you if you are struggling to pay your debts. We specialise in Individual Voluntary Arrangements – a legal solution that allows for unaffordable debts to be written off. With an IVA from our team, you will make affordable repayments to your creditors over a fixed period, with the remaining debt written off at the end.
An Individual Voluntary Arrangement (IVA) is not suitable for everyone who needs help with their debts. If an IVA is not right for you we will give you free no obligation help so you can decide on the solution you need.
Bennett Jones’ role in your financial recovery
Bennett Jones can investigate what you’re spending, both personally and if you are self-employed in your business, and help you understand whether an Individual Voluntary Arrangement (IVA) is the solution you need. Whether you need an IVA, an alternative debt solution, or simply information to help you organise your spending, we can deliver some peace of mind.