IVA - Individual Voluntary Arrangement

IVA, make the best out of your true alternative !

What is an IVA - Individual Voluntary Arrangement?

IVA an Individual Voluntary Arrangement is a formal agreement you get into with your creditors. You negotiate on reduced payments and pay off a percentage of what you owe to your creditors for a span of 5 years. All your balances after this is written off. Your IVA is set up by a licensed professional known as Insolvency Practitioner(IP)

IVA UK finds financial solution to you!

IVA- Individual Voluntary Arrangement DEBT

If you are indebted and need a legal way of getting out of your debts, opt for an iva. IVA advice will make suitable arrangements and bring about an agreement between you and your creditors. We help you get out of your financial predicament through a formal proposal to settle down your debts.

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How does an IVA help?

You are ridden of your debts within 5 years, if there are any outstanding amount left you are not entitled to pay it after 5 years. After this period you don’t make any interest charges. However, you need to furnish enough evidence to show your inability to pay back your loans.

Your iva has to be approved of by your creditors. If a creditor votes against it and he represents more than 25% of your total debt then your IVA will fail. Once it’s agreed up on, no creditor can take any legal action against you.

Alternative to IVA

Before considering an iva, look at the various alternatives and get out of an iva. Debt management, debt consolidation and debt relief can get you out of debt without any legal process involved in it.

Why get out of an IVA?

 Your iva can reduce your repayments each month, you will still have to pay all of your debt back.
 Your creditors will not stop adding interest and late payment charges
 Your creditors can break the agreement at any time and demand more
  Seek out for an iva advice before you consider any kind of iva solution!