Simple IVA
Simple IVA
Getting out of debt is not always simple. IVA companies are often contacted by customers who feel they are unable to juggle their debts and feel like they are unable to cope with the burden. However, getting out of debt could be easier than you think, providing you get the right help and advice. If you want to apply for a simple IVA, it is worth weighing up the advantages and disadvantages. The advantages include:
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Having a fixed period to pay off debts (usually five years), after which the debt is cleared
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Using an intermediary to contact your creditors so that they will not hassle you for repayments
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Have interest charges frozen and pay one monthly amount
However, there are other factors to consider, for example:
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IVAs affect your credit rating
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Your debts must normally exceed £12,000 and you must be able to repay £180 per month
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If you have equity in your home, some of this may have to be used to pay off part of the debt
Whatever your circumstances, you don't have to struggle along on your own. Get simple IVA advice by filling in the debt enquiry form. A trained advisor will contact you to discuss the best way to deal with your debts so that you can stop worrying and start feeling in control of your finances again.