subject: Benefit From Debt Iva Solution To Make A Sound Financial Decision! [print this page] Trapped in debt? Is harassment from creditors leaving you stressed out? Are you struggling to meet your monthly payments? If your answer is yes to any of these questions, it is time you sought help from financial experts. You no more have to lose sleep over this.
Debt IVA solution is available for the benefit of individuals, sole traders and partners who are reeling under debt pressure. It is beneficial particularly to debtors who own property and wish to retain it while dealing with their debt. Understand what you can do to ensure this kind of solution is viable for you or not? You must provide an honest declaration of your assets and expected future earnings? Moreover, your IVA must offer satisfactory returns to your creditors.
Most of the borrowers opt for IVA than bankruptcy due to the following reasons?
No negative publicity
You dont lose your home/property
Your professional status is not affected
You can operate a bank account (it should not have an overdraft facility)
IVA solutions advantage is certainly popular with borrowers:
Write off 75% off your debts
Stop all legal action against you
Freeze interest rates against your debts
Re-establish your credit rating
Avoid bankruptcy
Be debt free in 5 years or less
Why Avoid Other Debt Solutions?
Standing abreast to this is debt management solutions. The truth is that they do not prove that beneficial. It does not help curb impending debts. Hence, many people with debt problems prefer to go with an IVA. They are gaining popularity as compared to any other type of debt plan.
Yes, it is true that there are many debt solutions which reduce your repayments to a great extent but they leave you with a large part of your debt to pay back. Hence, it does not prove to be a viable option. They are not legally binding also. In such types of circumstances, this can prove to be helpful. You must understand that when you choose them, it means a commitment for up to five years. If you are ready for that you must opt for them. Implementation of IVA takes about 4 weeks only which provides the quickest and the most effective means to get rid of your debts!
by: Sadhana
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