How Does an Insolvency Voluntary Arrangement Or IVA Work?
An Insolvency Voluntary Arrangement, or IVA as it is frequently known, is one of the most popular debt management solutions in use in the UK today. An IVA falls far short of the cut-and-dried bankruptcy measure which liquidates all your assets and gives the proceeds to your creditors in order to eradicate your debts; instead and IVA simply arranges for a settlement, usually a much reduced monthly payment for a fixed period of time, typically 5 years.
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