An IVA (or Individual Voluntary Arrangement to use its full title) is a formal debt repayment plan. It could be a great alternative to bankruptcy and agreeing to one could even result in up to 75% of your debts being written off.
You'll have to make regular monthly payments for a set period of time - normally around five years - but at the end of the IVA all your outstanding debts will be wiped clean and you'll hear no more from your creditors.
IVAs are becoming increasingly popular in the UK and many people find that they’re just what they're looking for to cure their debt problems. If you want to find out how an IVA could help you, compare your options using the button below or check out the links for more information:
To find out more about IVAs, you can explore the links below:
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