IVA Advantages
If you are struggling with large amounts of debt, an IVA is often the best debt solution for you. All your creditors will be legally bound by the agreement once it has been accepted.
For more information please call our specialist IVA advisors on 0808 131 0038, or fill in the Quick Enquiry Form and we will call you back.
Advantages of an IVA:
- All interest and charges are automatically stopped.
- All unsecured debts that you cannot afford is written off after completing the programme.
- You need to commit to just one low monthly payment which will suit your financial circumstances.
- It will not be published in your local newspaper.
- You will not have to sell any of your assets, whereas a bankruptcy order can demand that you sell your home.
- You will be free of any unsecured debt after 60 months.
- Once your IVA has been accepted, your creditors will be unable to pursue you for any debt as it is legally binding.
Entering into an IVA may adversely affect your
credit rating for up to six years from the date of approval.
Your property will be protected within an
IVA but you may be required to release all or part of any equity during the
period of the arrangement.
Failure to complete the term of an IVA can
result in bankruptcy.
(In Scotland, a PTD is the equivalent to an IVA.)