subject: Gain A Deeper Understanding On Iva! [print this page] Have you been contemplating to opt for Individual Voluntary Agreement because you are facing the danger of being declared bankrupt? If yes, then you must find out all the information about it beforehand. This will help you understand what you are getting into clearly. You can make a choice between the two, i.e., bankruptcy or IVA.
An IVA is a government backed, legally binding agreement between you and your creditors. You will emerge out of your debts if you choose this. It will also help reduce your monthly payments, freeze interest rates and write off your debts in time (generally less than five years). Now, isnt that great?
There are many advantages of opting for this kind of method:
One affordable monthly payment
Frozen interest rates
No negative publicity as in case of bankruptcy
If you dont much about it, it is advisable you reach out to a financial adviser. He or she will enhance your knowledge on this. They will offer you advice on insolvency. They will also provide you with all the necessary information on it to remove all your fears and doubts. Moreover, they will work hard and assess your case individually and help you with it. It is an insolvency practitioner who decides how much you can afford to pay back each month.
The team of experienced insolvency practitioners are capable of finding solutions to all your debt problems. No situation is new to them and their extensive knowledge and information on IVA will convince you that your debt troubles are forgotten! In fact, this is a smarter option than bankruptcy wherein you would be declared bankrupt. This would cripple your financial position. Hence, opting for this method is more easy and sensible.
You can eliminate debt pressure completely and get on with your life with an IVA. When you feel that there is no way out of the long tunnel of debts you have been travelling you could choose this and seek advice on insolvency. The insolvency experts will provide you with timely and accurate information that will drive your debt demons away!
In fact, this is an excellent alternative to bankruptcy. It will ensure that you are not caught in any negative publicity, as in the case of bankruptcy. This has helped thousands of people to come out of debts since it was introduced in1998. You can retain all your assets and gain control of your finances through this. You can also get information on IVA beforehand. This will help you get a clear understanding of it.
by: Sadhana
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