What's Hot

    Chelsea Acton’s Famous Parenting Tips and Opinions

    Is The Number 8776137414 A Scam? Detailed Investigation

    Traveling with Kids on a Budget: Practical Ways to Save Money and Maximize Your Family Vacation Experience

    Facebook Twitter Instagram
    Facebook Instagram
    Dir Book
    • Home
    • Business

      Is The Number 8776137414 A Scam? Detailed Investigation

      June 12, 2025

      The Appeal Of Easy Loans By Fast Loan UK — Convenience Vs Cost

      June 9, 2025

      Finding the Best Steel Fabricators in Norwich for Your Project

      May 28, 2025

      The Private Lives Of Dallas Yocum, Mike Lindell and Karen Dickey Lindell

      May 20, 2025

      Developing A Strategy For Business Success With IcoStamp

      April 19, 2025
    • Internet
    • Education
    • SEO
    • About
    • Contact
    Dir Book
    Home»Business»Financial Services»What Is An IVA?
    Financial Services

    What Is An IVA?

    AngelineBy Angeline2 Mins Read
    Facebook Twitter

    Unfortunately, in the UK, thousands of people find themselves in serious debt. When this happens, it is very important to get good advice. Many people struggle on until they are completely overwhelmed by their debt. Fortunately, in the UK there are several ways of paying off debts even when your income is not adequate to allow you to do so completely. One of the most popular solutions is an IVA, which stands for Individual Voluntary Arrangement.

    This is an agreement between you and your creditors that restructures your debt and brings it down to a level that you can manage to pay off. It is an alternative to bankruptcy.

    The process is relatively simple. It consolidates all of your debts, which allows you to pay off the debts using one affordable monthly payment. In most cases, the IVA lasts for five years. This means that you can be debt free within five years. Repayments can start at as little as £120 a month.

    Is an Individual Voluntary Agreement Right for You?

    For many people this is a lifetime. However, IVAs are not suitable for all people. Firstly, you need to have debts of over £10,000 and the debts must not be secured debts. You also still need to be in regular employment to be able to put together a legal IVA.

    It is also important to bear in mind that sometimes you will be asked to sell assets as part of the IVA agreement. For example, you may be asked to cash in things like ISAs. However, you will never be asked to sell your home as you would if you chose to go bankrupt instead.

    Provided you follow the IVA to the letter, you will be debt free at the end of the contract. Creditors cannot change their mind and ask you for more money.

    Where to Get Good IVA Advice

    However, it is not an agreement you should enter into lightly. It is wise to use an independent company to advise you about IVAs and setup the process for you. They will act as a mediator between you and your creditors and ensure that the agreement that is drawn up is fair and legally binding.

     

    If you want good quality IVA advice speak to Debt Free Direct. We offer practical and impartial advice you can use to get yourself out of debt quickly.

    Related posts:

    1. Govt to invest in worker training
    2. FSB raises concerns over possible business record changes
    3. Develop profitable international markets
    4. Improving Your Potential
    Share. Facebook Twitter

    Related Posts

    Top Lenders Offering £1000 Loans for Bad Credit Borrowers

    Why Outsourcing Your VAT Needs a Smart Move?

    Comments are closed.

    • Latest Post

    Chelsea Acton’s Famous Parenting Tips and Opinions

    Is The Number 8776137414 A Scam? Detailed Investigation

    Traveling with Kids on a Budget: Practical Ways to Save Money and Maximize Your Family Vacation Experience

    The Appeal Of Easy Loans By Fast Loan UK — Convenience Vs Cost

    Follow On Instagram

    [instagram-feed showheader=false followcolor=#bb8100 num=9 cols=3 showbutton=false]

    RSS Blog Feed
    • Will the next iPhone charge wirelessly?
    • How 'America First' could turn into to 'India First'
    • Mexico ready to retaliate by hurting US farmers
    • Stocks hit record again. Is Trump the reason?
    • Apple stock nears record high
    About Me

    I’m Angeline (P.S. my friends call me Angie), a DIY and home interior obsessed US girl, and keen lover of travel, fashion, love and Italian food.I love travelling, enjoying amazing food and wine and style of all kinds. This is my happy place and really a creative corner of the world to share my simple, complex, entertaining and inexpensive projects, colourful lifestyle, budget travels ideas.

    Facebook Instagram
    Services
    • Construction and Maintenance
    • Consumer Goods and Services
    • Communications
    • Computers
    • Internet
    Coverage
    • Transportation and Logistics
    • safety and security
    • Software
    • Mobile-Cell-Phone
    • Business Services
    Recent Posts
    • Chelsea Acton’s Famous Parenting Tips and Opinions
    • Is The Number 8776137414 A Scam? Detailed Investigation
    • Traveling with Kids on a Budget: Practical Ways to Save Money and Maximize Your Family Vacation Experience
    • The Appeal Of Easy Loans By Fast Loan UK — Convenience Vs Cost
    • Finding the Best Steel Fabricators in Norwich for Your Project
    Copyright © 2006-2025 Dir Book. | Privacy | Sitemap

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy