The advantages of an IVA

It is always difficult to see your company/business go into debt trying to pay off your debts can be a difficult and challenging task. With bills, mortgages and a family to consider, many of us are turning to quick cash solutions which lead them into more debt and bother than necessary.  However, many people don’t realise how much help they can receive if they look into enquiring about an IVA, a Government approved solution to solving your debt problems.

An IVA (Individual Voluntary Arrangement) is a contract between you and your creditors to pay the existing debt owed to them over a fixed amount of time.

And to make sure you know what is involved in an IVA and how they can benefit you, we at IVA.net have listed the advantages an IVA can bring you.

• At Iva.net we can calculate exactly what you can afford to pay back each month. Once this has been agreed, you make one standing order payment each month directly into your client account. The payment amount generally stays the same unless you can afford to pay more.
• If your IVA is successful, all of the people you owe money to are legally bound by the terms, so there are no surprises along the way.
• Once the term of your IVA is finished (usually around 5 years) you no longer have any obligation to the people you owed money to. You stop paying the money and you can start afresh.
• If you are employed an IVA will not affect your line of work and your employee will only know about it if you tell them.
• Unlike bankruptcy your details will not be published in the local press and you will not be excluded from running any business in the future.

For more IVA advice, visit IVA.net today or call 0845 308 2622.