Specialists in Debt Help and Advice.

One of the key benefits of an IVA is the avoidance of bankruptcy. When you are declared bankrupt you are placed on a public register that could potentially cause embarrassment or loss of reputation. With an IVA you can avoid this.

You will have an agreed monthly payment set with all your creditors – that is acceptable to them and affordable to you. It will also be agreed that when 5 years has passed that any remaining debt will be written off. Therefore an IVA is good for setting yourself a financial plan for the next few years.

As the agreement is legally binding the creditors cannot look to increase the payments required from you as you will both have signed to agree the future payments that will be made.