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Advantages of an IVA

  • All interest and charges on your unsecured debts will be frozen.
  • Individual Voluntary Arrangements are not published in local newspapers, unlike bankruptcy.
  • It will not affect professions such as the Police Force and Armed Forces, neither will it affect your ability to hold public office or act as a company director.
  • All unsecured creditors will be bound by the IVA.
  • The debtor, via the insolvency practitioner, is involved in the choice of assets made available to the creditors since the arrangement is designed to suit the debtor's situation.
  • Your monthly payment contribution is based on your individual financial circumstance.s
  • Administration costs should be lower than bankruptcy, enabling higher payments for creditors.
  • The debtor is able to operate a normal current account, as long as it does not have an overdraft facility.
  • Once the individual voluntary arrangement is successfully completed any remaining unsecured debt is effectively written off, providing you with a fresh start.
  • Any legal action by your unsecured creditors is stopped as long as you make your required monthly payments into your IVA.
  • You could become debt free in 5 years.
  • All unsecured creditor correspondence is stopped and sent to your Insolvency Practitioner.

Click here to see some of the disadvantages of and IVA.

If you would be interested in enquiring about an Individual Voluntary Arrangement (IVA) or would like to talk about any other financial options, call FREE on 0808 22 22 123 or alternatively you can request a callback on the contact page.

We offer impartial advice and will make you aware of all applicable financial solutions based on your individual financial circumstances. We will also make you fully aware of the potential costs, implications, advantages and disadvantages involved in any proposed financial solution.

All IVA's offered by 123 Debt Solutions Ltd will be administered by Pareto Money Management Ltd or a trusted third party.

Pareto Money Management Ltd is authorised by the Insolvency Practitioners Association and is a member of the Association of Business Recovery Professionals, known as R3.