What is an IVA?An IVA ( Individual Voluntary Arrangement ) is a government solution created to help people clear their debts instead of going bankrupt. With an IVA you only pay back what you can afford to pay each month.Because an IVA is legally binding, your creditors cannot alter the terms of the agreement at any stage.
Is an IVA with Debt Solutions the right choice for you?An IVA is the right choice for you if you:
An IVA may be right for you and you could have a large portion of your debts legally written off. To find out more about IVAs contact us at Debt Solutions
Advantages of an IVAWith an IVA you could:
What are the fees for an IVA?An IVA is structured so that your creditors agree how much fees are charged for setting up and supervising your IVA agreement. This fee is taken from the overall amount that you pay into the arrangement so you will never pay any more than your monthly payment. For Example: If your monthly payment is £220 and the duration of your IVA lasts 60 months, you will only ever pay £13,200 (220 x 60). Any remaining debts will be written off. Since the fees are decided and settled by your creditors, you only need to worry about choosing the right IVA provider who will give you the service you require IVA frequently asked questionsRead our Individual Voluntary Arrangements Frequently Asked Questions (FAQ)
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