Self-employed? Manage your debt in affordable payments with a self-employed IVA
Running your own business is stressful enough without the added problems of managing debt.
We specialise in self-employed debt help and are here to manage you to a debt-free existence and support you each step of the way. If you are self-employed and need debt advice you should contact us immediately for a free consultation.
We offer confidential, impartial, free money advice and solutions to anyone faced with money problems, including those that are self-employed through a CD Fairfield Capital self-employed IVA.
What is a Self-Employed IVA?
A CD Fairfield Capital self-employed IVA (Individual Voluntary Arrangement) is a debt management solution tailored especially for the self-employed.
With a Self-Employed IVA, you could be debt free in as little as 5 years and carry on running your business as normal. A significant amount of your business and personal debt can be written-off, and you repay the rest in manageable monthly payments based on what you can afford.
A self-employed IVA will also freeze interest, ensure there is no more legal action, and stops any further chasing from your creditors.
The other advantages of a Self-Employed IVA are:
- You can usually continue to use essential trade suppliers and lines of credit
- Keep any tools, machinery and stock you need for your business
- Structure your debt repayments to fit in with your cash-flow
In a Self-Employed IVA, you will however need to keep to a budget and make a monthly contribution into your IVA, but your business debts will all be taken care of. You will still have enough money left over to run your home and business, buy clothes and food for you and your family, and keep up to date with all your essential outgoings.
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. It is also advantageous over a self-employed debt management plan as it gives you a clear end date to becoming debt free.
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 five or six years) and providing you maintain 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?
If you work for yourself and sell goods or services, you may be classed as a sole trader. Self-employed IVAs are available to anyone who works for themselves and completes a self-assessment tax return. Below are a few examples of occupations that might qualify for a self-employed IVA:
- Construction Industry Scheme (CIS) Workers
- Buy-to-let landlords
- Childcare providers
- Freelance designers
To qualify for a Self-Employed IVA with CD Fairfield Capital, 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 – What Next?
As a next step, contact CD Fairfield Capital for free & immediate advice regarding self-employed IVAs. There may well be several debt solutions that are appropriate to your needs and we can discuss these with you, to establish which is the best option for you based on your individual circumstances.
Call us now or complete our contact form here.