Packagers are the way forward for the distribution of individual voluntary arrangements, says All Types of Mortgages.
The firm is launching its own IVA proposition, backed by accountant Grant Thornton. The AToM IVA will be open to clients who owe creditors more than £15,000.
The packager says the only way to clean up the industry and make it an option for brokers’ clients is to provide IVAs through packagers.
Richard Hearn, managing director of AToM, says: “I’m sure other packagers will take up the idea as they are in the perfect position to advise on such products. The AToM IVA will assist brokers’ advice processes and is better than using unscrupulous IVA providers without advice.”
Dev Malle, director of Personal Touch Financial Services, says: “Grant Thornton is a reputable firm, which is key to the AToM IVA. But although AToM knows a lot about sub-prime, a qualified adviser must recommend its IVA.”