Full Name Telephone Approximate Debt Level
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IVA Pros & Cons


Advantages of an IVA

  • Be totally debt free in five years or less
  • Learn financial management skills that will benefit you for the rest of your life
  • Receive ongoing support from Insolvency Practitioner (IP)
  • Avoid bankruptcy and the restrictions it can impose
  • You will pay no further interest or charges on your debt
  • It is not made public
  • It does not effect your professional standing
  • You and your IP draw up flexible realistic proposals
  • Unlike bankruptcy, you will still be able to act a director of a company or work in the armed forces or other professions
  • IVAs provide a better return to creditors than bankruptcy
  • If you adhere to terms of the IVA than creditors are not allowed to

Disadvantages of an IVA

  • Any equity in your property may have to be released.
  • Failure to meet repayment may result in bankruptcy.
  • A minimum monthly repayment is required.
  • Terms last longer than bankruptcy.
  • You credit rating will be damaged but can be improved in the years following the IVA.
  • Level of repayment is higher than bankruptcy.
  • Under the terms of the agreement you undertake to contribute as much as possible within your budget.

Are you eligible for an IVA ?

Try our simple debt solution calculator to find out.

To get the best information for your circumstances it is always recommended to speak with a qualified adviser. We could be helping you in a few short minutes in a friendly, no-obligation chat : Request a call back or call us on 0800 043 3329

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