IVA - The Benefits debt-simple

IVA - The Benefits

If you have debts of more than £15,000, then an IVA will normally be the best option to help you get out of debt.

Interest and charges are frozen

In an IVA all your interest and charges are guaranteed to be frozen.

Reduced monthly repayment

You only pay back what you can realistically afford and this is agreed with your creditors in your proposal to them.

No further action from creditors or court

Providing you keep to the terms of the arrangement, you will be protected from any further court action from your creditors. They will also be prohibited from contacting you by telephone or letters and are bound by the terms of the IVA.

Debt free in 5 years

Once the arrangement is successfully completed your debt will be written off, giving you a fresh start.

Avoid bankruptcy

For anyone who cannot go bankrupt because of their job or who does not wish to apply for bankruptcy, this is the best option for them. An IVA is not published in your local newspaper, unlike bankruptcy.