 What
is an IVA? |
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An IVA is a legal contract between you and your
creditors. It enables you to cut your debts to
an affordable level and clear them over a fixed
period.
An IVA ensures that your home is protected, your
job is not at risk, and your credit rating is
not demolished. You can even take out a fresh
mortgage while in an IVA. What’s more, it is a
totally private arrangement – nobody needs to
know about it apart from you, your advisors and
your creditors.
You make one single manageable monthly payment,
based on your budget, for 3-5 years. After that
the remaining debt is wiped clean, leaving you
completely debt-free. This means that an IVA can
write off up to 75% of your debts! This all
might sound too good to be true, and in many
ways it is very good indeed.
However, under the terms of the agreement you
undertake to contribute as much as possible
within your budget.
So in reality, an IVA presents an opportunity
for you to pay whatever as you can in a
manageable way – a way you can afford.
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 Apply Now |
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