What is an IVA?
What is an IVA?
“What is an IVA?” is a common question. Despite their increasing popularity for those seeking debt help, many people
don’t know what an IVA is, and quality IVA information can be notoriously difficult to find.
When you've got debt problems it's easy to feel worried about them. It's easy to think that nothing and no one can
help. In fact there are a number of options and information available to you – while the most common may be
Bankruptcy or Debt Management Plans, IVAs are an alternative experiencing a significant growth in uptake and for
good reason.
IVA Information
So what is an IVA? An IVA is one of the most popular ways to help get out of debt. IVA Information:
- IVAs are a legally binding way to reduce the amount that you pay back
- IVAs are a way to stop future interest charges
- IVAs reduce your monthly repayments
Using the Individual Voluntary Arrangement procedure is one of the most effective ways to manage your debt and
return to a clean financial bill of health. For more advice on ‘what is an IVA’ and how it could help your debt problems
- or for general queries and IVA information - contact Baines & Ernst today on 0800 096 1331 or complete the debt
test form on the right of the page.
If your circumstances change in the future, please contact us to discuss your situation in order that we can help ensure you have the right solution for your circumstances. You can also view a free publication from The Insolvency Service ‘In Debt? Dealing With Your Creditors’ (www.insolvency.gov.uk/pdfs/guidanceleafletspdf/indebt-web.pdf. ) which provides an overview of some of the debt solutions that may be available.