There are a lot of companies offering IVAs and debt help. How do you pick the best one? That is a good question that many people ask themselves. It is very important to choose the right IVA company, yet it is hard to check each company’s background with a clear mind when you are so worried about your debt.

An IVA company will help you deal with your Insolvency Practitioner (IP). The IP is the person who will be in charge of your IVA – you will want to have one with a good reputation. It is hard to find and deal with a good IP, so getting a good IVA company will give you some piece of mind with you debt solution.

Follow the advice below in order to save time and frustration:

1. Do you know people who have gotten their IVAs already? Get a recommendations so you know which companies you might want to go with and which you want to avoid.

2. Phone around various companies before agreeing to meet with two or three. This ensures that your options are not limited and gives you a good feel of what you should be looking for. If you are not comfortable when talking to an advisor on the phone then you should scratch that particular IVA company off your list because they will probably not be very interested in helping you.

3. Never use a company that charges for an initial consultation. The consultation and preliminary paperwork should be completed for free, and a thorough analysis of your personal situation should be carried out before any work is done. If this aspect is neglected then move on to another company.

4. There is no guarantee that you will get your IVA, and any company that claims they will guarantee your IVA is just trying to get your money and should not be trusted. The reason for this is that an IVA can only be successful once the majority of your creditors agree to its terms. So stay away from any such claims or guarantees.

5. The last important point is that you should look for a refund guarantee on any payments that you need to make before the IVA is completed. If you don’t get such a guarantee and your IVA is turned down, the IVA company does not have to give you your money back. If you make sure that you get such a guarantee, you save yourself money and aggravation in the future.