IVA

• Become debt-free in just 5 years
• Write-off as much as 60-70% of your debt
• Get breathing space from your creditors

If you think that bankruptcy is your only option, think again. There’s a far less restrictive alternative called an Individual Voluntary Arrangement.

What is an IVA?
A formal debt repayment agreement between you and your creditors; it’s a way to freeze interest rates and pay off, or even write off, some of the money you owe under the watchful eye of an insolvency practitioner (IP). It runs for around 5 years, after which you should be debt free. Any money still left owing should be cancelled. However, an IVA will remain on your credit file for at least 6 years. The only people who need know about your IVA are your creditors and IP.

I’ve got some more questions about IVAs