Advantages of an IVA
People often worry about how an IVA will affect them. The following is a list of some advantages of an IVA that might be helpful.
- Interest and charges will be frozen on your current debts.
- The part of your debt you cannot afford to pay will be written off by your creditors.
- You will not need to sell your house.
- Avoids having to goto court.
- Creditors will be forced to accept the IVA offer.
- You will be out of debt in the pre-arranged amount of time.
- Your creditors will stop chasing you for payments.
- You will avoid the problems involved with bankruptcy.
- You will have protection from all of your unsecured creditors.
- There will be no need for an official investigation into your finances.
- The people you recieve help from will be professionally qualified and licensed.
- IVAs are not published in local newspapers.
There are many advantages and disadvantages to an IVA. Every situation is different. We strongly reccomend that you consult with an advisor to get a clearer understanding of your present circumstances. You are under no obligation and no fees are charged for this service.
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