Finance Blog

An IVA (Individual Voluntary Arrangement) is essentially a way to write off the debt you can’t afford, without having to declare bankruptcy. If, for example, you feel like you’re spiralling into debt that you have no way of repaying, an IVA could bring your finances under control, and give you a clear plan as to when you will be debt free. It can really stop the worrying that often comes with debt, and an IVA is a legally binding solution to financial problems – it will all happen a lot faster that you would probably think, allowing you the luxury of being be debt free in no time.

The whole process works as an agreement between yourself, and your creditors – if you pay what you can afford for five years, then the creditors will wipe whatever’s left of your debt. That’s how an IVA works. So, who will benefit the most from an IVA? Well, if your debts are extremely serious, let’s say, thousands, and you are worried about becoming bankrupt or losing your home to repossession, then an IVA could keep you clear of this. Making regular manageable payments for five years would reduce the stress and worry, and would also lead (at the end of the agreed term) to you being totally debt free.  DebtAdvisorsDirect.co.uk are a professional organisation who help individuals with debt troubles. They offer debt consolidation services, but also IVAs, and contacting their dedicated team of financial experts could mean you’ll be setting up manageable payments within hours. What’s more, the initial consultation is absolutely free, so after being given advice by their team of experts, you can happily choose not to take it any further. DebtAdvisorsDirect.co.uk are professional, experienced, and talented, and they’ll help you with any financial concerns.