Apply For An IVA
Apply For An IVA
If you have decided to apply for an IVA (individual voluntary arrangement), it is worth getting as much information as possible before getting the ball rolling. For example, did you know that an IVA normally lasts around five years and that, at the end of the agreed period, your debt will be written off? Some people only end up paying 35 per cent of their total debt, so this may be encouragement enough to apply for an IVA.
However, there are various factors to consider before you apply for an IVA. Getting an IVA could:
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Help you budget more effectively as you work out your earnings and outgoings with a specialist
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Affect your credit rating and prevent you from getting any more credit while the IVA is effective
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Lead to part of your debt being written off
Click the link below for further information about IVAs and a specialist will contact you. You can get more advice about IVAs themselves and about how to apply for an IVA from a friendly advisor. And if you decided it is not for you, there is no obligation to apply.