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  • Will You Add? - Individual Voluntary Arrangement IVA, an alternative to bankruptcy

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    An Individual Voluntary Arrangement (IVA) is an alternative to bankruptcy. If you have a substantial amount of unsecured debt an IVA could be your best solution.

    IVAs are controlled by government legislation and can only be set up by licensed Insolvency Practitioners. An IVA acts as a legally binding agreement between you and your creditors, freezing interest charges on your debt and setting an affordable monthly payment amount over an agreed fixed period (usually 5 years).

    It is important to remember that you should only consider an IVA if you have sufficient money available to contribute towards repaying your debts each month or additional assets which could be taken into consideration.

    Disadvantages of Bankruptcy

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    is an alternative to bankruptcy. If you have a substantial amount of unsecured debt an IVA could be your best solution.

    IVAs are controlled by government legislation and can only be set up by licensed Insolvency Practitioners. An IVA acts as a legally binding agreement between you and your creditors, freezing interest charges on your debt and setting an affordable monthly payment amount over an agreed fixed period (usually 5 years).

    It is important to remember that you should only consider an IVA if you have sufficient money available to contribute towards repaying your debts each month or additional assets which could be taken into consideration.

    Disadvantages of Bankruptcy

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    set up by licensed Insolvency Practitioners. An IVA acts as a legally binding agreement between you and your creditors, freezing interest charges on your debt and setting an affordable monthly payment amount over an agreed fixed period (usually 5 years).

    It is important to remember that you should only consider an IVA if you have sufficient money available to contribute towards repaying your debts each month or additional assets which could be taken into consideration.

    Disadvantages of Bankruptcy

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    nthly payment amount over an agreed fixed period (usually 5 years).

    It is important to remember that you should only consider an IVA if you have sufficient money available to contribute towards repaying your debts each month or additional assets which could be taken into consideration.

    Disadvantages of Bankruptcy

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    ute towards repaying your debts each month or additional assets which could be taken into consideration.

    Disadvantages of Bankruptcy

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    Potential loss of assets such as your home, business and car
    Long term effect on your ability to apply for a credit or a mortgage
    Restriction to work within certain professions or hold a position of office
    Your utility suppliers – gas, electricity etc – informed
    Your bank and building society accounts closed

    IVA could help you with:

    The unpaid balance of your debts is written off – as much as 75%
    One affordable monthly payment, usually for five years
    Protects you from further action by your creditors
    Your creditors are legally bound by the terms of the agreement
    No uncertainty: you know how much you have to pay
    Alternative to bankruptcy
    No public notices: an IVA is between you an

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