Our calculator will help you to decide whether an IVA is right for you.
The IVA, or Individual Voluntary Arrangement, was created by the the Insolvency Act 1986. The main aim of the IVA was to allow individuals facing financial difficulty to make a formal agreement with their creditors instead of filing for bankruptcy. IVA services are provided by licensed insolvency practitioners. When an IVA is agreed, the following things take place:
Advantages of IVA services
When IVA services can help you
IVA services can be really beneficial in certain cases. They are highly beneficial when:
How does the IVA service work?
Unlike the bankruptcy there are no legal proceedings involved with the IVA, which makes this arrangement a more favourable option.