I.V.A's

An IVA is a legally binding arrangement between you (the debtor) and your creditors which usually reduces the amount you have to pay back. Entering into an IVA is an alternative to bankruptcy and can be a viable debt solution. Entering into an IVA will reduce your monthly outgoings and a proportion of your debt may be written off, but making the decision of entering into an IVA is not one to be taken lightly.

An IVA is a serious undertaking with many factors to consider. Most arrangements last for 5 years and include a monthly contribution. This contribution is based on affordability with all monthly disposable income being paid into the IVA. If you own a property it will be safe in an IVA, however it is common practice that the terms of the IVA stipulate a release of your equitable interest from the property in year 4. To release this equity you may be required to remortgage your property.

At Oakdale, we always complete a thorough due diligence which includes discussing all debt solutions applicable to your situation. If an IVA is the most appropriate solution then we will always make you fully aware of the implications and the restrictions imposed. With our guidance we endeavour to make sure that these restrictions have little or no effect on your quality of life during the term of the IVA.

Bankruptcy Assistance

Bankruptcy tends to be unfairly thought of as "financial failure" and "the end". People can wrongly assume that they will lose everything including their home, car and possessions. This is not necessarily true, in reality bankruptcy can provide legitimate relief from debts incurred by those who are in genuine financial difficulty and as a result it can allow a fresh
start with no more pressure from creditors.

The Government, via the Enterprise Act (2002), have put provisions in place to enable people to become debt-free and get on with their lives again. The bankruptcy laws were restructured to quickly rehabilitate the bankrupt into society with automatic discharge within one year, the very name 'The Enterprise Act' indicates a positive approach of rehabilitation and a new beginning.

At Oakdale Insolvency Services we have considerable experience and extensive knowledge of bankruptcy legislation and regulation. We provide a bespoke handholding service which aims to make the whole process straightforward and painless. Our comprehensive assistance starts from the date of instruction to the date of discharge and in most cases we can assist to safeguard the family home.

At Oakdale, we always complete a thorough due diligence which includes discussing all debt solutions applicable to your situation. If bankruptcy is the most appropriate solution then we will always make you fully aware of the implications and restrictions imposed. With our guidance we endeavour to make sure that these restrictions have little or no effect on your quality of life during the term of the bankruptcy.

Company Assistance

At Oakdale Insolvency Services we provide expert assistance for limited companies who are experiencing financial difficulties. Whilst we provide solutions which address your company's unfortunate financial predicament, unlike many firms within our industry we act solely in the best interest of YOU the director and we always assist with any personal exposure.

The solutions we advise upon are dependent on your company's unique circumstances. After a thorough due diligence, it may be apparent that the business could become viable and profitable if it didn't have the burden of debt it was carrying. With our extensive experience and assistance we endeavour to provide bespoke, seamless and cost effective solutions which result in business continuity and turnaround.

A fresh start with little or no debt could mean your business retains ownership of the assets it needs and customers / clients continue to receive the products / services they require. Just as important, staff are kept in employment.

Full and Final Settlements with Creditors

Settling on a full and final basis is a viable debt solution if you are in receipt of a lump sum of money. This may have come from a third party e.g. family member or it may have come from the sale of an asset.

A full and final settlement is a partial offer of repayment to your creditors under the condition that your creditors agree to write off the remainder of the debt. All creditors agree to take an equal dividend (e.g. 40p in the £) on a pro rata basis. Once the creditors accept the offer in writing, the payments are made and the debt is effectively settled.

At Oakdale Insolvency Services we have had many successes and have a proven
track record when it comes to negotiating with creditors.

Debt Restructuring

Whether you are solvent or insolvent at Oakdale Insolvency Services we understand that the monthly contractual payments to your creditors may be unaffordable. A change for the worse in your circumstances can result in these payments not being met.

You may have had a drop in income or you may have been the director of a failed limited company who can't fulfil the obligations of personal guarantees. We have a proven track record when it comes to negotiating affordable repayment terms and in most instances we also have the accruing interest frozen.

We are experts when it comes to restructuring debt and have considerable experience in dealing with all types of creditors including Banks, Mortgage Providers and Revenue & Customs.

Property Assistance

At Oakdale Insolvency Services we understand the importance of retaining ownership of "the family home". Even if you have substantial liabilities and arrears on your mortgage, we can still help. We utilise little known legislation which can allow you to retain ownership of your home, no matter how late in the day and no matter how much debt you may have.

Even if a lender has instigated legal action to repossess your property, it's not too late, we can still help. We have a proven track record in dealing with lenders and are specialists in finding affordable, amicable solutions which allow you to retain ownership of your home.

For more information about any of our services call us on 0845 619 8009 and talk to one of our experienced friendly advisers. Alternatively complete the express enquiry form to the right and we will call you back at the time you specify.