IVA'S
What Is An IVA
An IVA ( Individual Voluntary Arrangement ) is a legally binding agreement with your creditors which allows you to pay a realistic affordable payment over a fixed period of time which is normally 5 years.
The IVA gives you the opportunity to protect your most important assets like your home, you may have to release equity from your home by remortgaging or taking out a secured loan.
As you are paying your debt off over a fixed period of time some of your debt may be written off. IVA's would normally suit a person who has over £15,000 worth of debt and has more than 2 creditors.
The Benefits Of An IVA
- An IVA will safe guard your property if you are a homeowner
- Threatening telephone calls and letters from your creditors will stop
- An interim order can be made to prevent legal action from your creditors
- Creditors must freeze all further interest and charges
- When an IVA is completed any outstanding debt is written off and cleared
- An IVA means you make one affordable monthley payment
Like To Know More About An IVA
If you would like to know if an IVA would be right for you then give us a call on 0800 043 3939 and a member of our friendly team will be happy to answer any questions you may have. The Debt Support Company is here to help you in any way we can to help you find a solution that is right for you. We can provide a fantastic debt management programme for you.
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