An IVA comes with a number of positive benefits, including:

  • You pay a single, affordable, monthly payment which is fair to both you and your creditors.
  • Creditors are legally bound by the IVA meaning that they cannot take any recovery action against you.
  • Any debt you cannot afford to repay is legally written off, often saving you a considerable amount of money.
  • If you are a home owner your property is protected. However, it may be required that you re-mortgage after 3 or 4 years to release extra funds to repay creditors.

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