Struggling with your debt? Heard about an IVA but lack of IVA information? Information on IVA is now available at the click of your mouse! Find out more today…
IVA stands for Individual Voluntary Agreement. It is a formal agreement with your creditors which allows you to pay back just a percentage of your debt. With an IVA as much as your debt can be written off. IVA was introduced as a part of the Insolvency Act of 1986 and necessitates a debt of at least £15,000 owed to three or more creditors.
You only have to deal with one affordable monthly payment or in some cases a lump sum. IVA information will help you find a legally binding debt solution to deal with your creditors. They cannot change the IVA terms and conditions once they have agreed to it. Also they cannot threaten any legal action against you as long as you maintain your monthly repayments. An Insolvency Practitioner helps to formulate your IVA. |