Could an IVA benefit you?

If you’re in serious debt, then an IVA (Individual Voluntary Arrangement) could be the right debt solution for you. There are definite benefits to an IVA if you are in this situation, but you should talk to the Debt Advice Trust first to make sure you understand exactly what is involved in an IVA.

Some of the benefits of an IVA are that you could become totally debt free after a certain period - typically five years - and you need only pay your creditors what you can afford. However, naturally there are implications to taking this course of action and that’s why you should talk to the Debt Advice Trust.

Avoiding bankruptcy

One of the major benefits of an IVA is that it can mean avoiding the threat of bankruptcy. If bankruptcy is a real possibility, then your creditors might prefer an IVA if it means they will get more of their money back. But they will need to be persuaded that you can meet the regular monthly payments to your IVA provider before they write off the rest of your debts.

Trustworthy advice about the benefits of an IVA

As a registered not for profit organisation, the Debt Advice Trust exists to offer you expert, honest and impartial advice. Call us today for an unbiased view of whether an IVA or another solution is suitable for you.

IVA benefits FAQ's

• Q: How can I be sure I qualify for an IVA?

  A: Just give us a call, speak to us in confidence about your financial circumstances and we can provide you with all the advice you need as to whether an IVA is the right debt solution for you.

• Q: Is bankruptcy the only alternative to an IVA?

  A: No, this is not necessarily the case at all. An IVA can certainly save you from bankruptcy but equally there may be another debt solution you could consider. That’s why you would benefit from some impartial advice from the Debt Advice Trust.

More IVA FAQ's