Choosing an IVA Practitioner

Debts, and bankruptcy, can lead to a bitter financial situation, potentially jeopardising your career and losing your home as it is sold off to repay your debts. Bankruptcy is a drastic solution for paying off your debts, however there is another debt management option, the Individual Voluntary Arrangement, or IVA. Basically, an IVA is provided by an IVA practitioner, and can be a good way of becoming debt free while keeping your home and career.

When choosing an IVA practitioner, it is important to choose a trusted organisation that will give you all of the advice you need. Choosing an IVA practitioner with extensive experience and a good reputation will provide you with the benefit of this, as well as the knowledge that your chosen IVA practitioner will work hard to get you the best outcome from your IVA.

In comparison to other debt solutions, such as consolidation loans or debt management plans, an IVA spreads a reduced repayment schedule over a fixed period of time (usually five years). After the IVA is completed, any remaining debt is written off.