Why do I need IVA debt assistance?
A professional debt solution company can provide you with a formal IVA proposal that will put an end to all of your debt-related concerns. Individual Voluntary Agreements can facilitate a formal agreement that could reduce your total debt by as much as 75% and allow you to repay the remainder of your debt over a lengthy period of time with much more reasonable interest rates. In addition, during the duration of a legally binding IVA agreement, you are able to shield valuable assets such as your residence and vehicle from bailiffs and creditors.
IVAs typically last 60 months, during which you are required to pay as much as your finances will allow above and beyond the costs of living. After sixty months, you are declared debt-free, regardless of the total amount repaid.
How does IVA debt assistance work?
While initially it may appear that these terms are far too favorable for a creditor to willingly agree to them in a legal arrangement, you must consider that an IVA is a good solution for all parties, as it allows you to avoid bankruptcy and ensures that your creditors are paid (albeit in a reduced amount), which would not have been guaranteed in the debtor's bankruptcy.
It is recommended that you conduct your own research and reach your own conclusions if you wish to learn more about IVA debt relief or gain a better understanding of other available options. If you're searching for a good starting point, this IVA UK website is a good option.""
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