An Individual Voluntary Agreement results in you having one lower monthly payment.
Interest and charges are frozen, so your debt cannot increase.
You won't lose your home unless you fail to keep up repayments.
There are no hidden fees with an IVA.
Up to 80% of your debt can normally be written off.
After an IVA has been agreed your creditors should no longer contact you.
With an IVA plan you only pay back what you can afford.
You can continue to run your own business and continue as a director.
Unlike bankruptcy an IVA is not advertised.
Debt Consolidation Explained contains general information only. We strongly advise you to seek qualified professional advice before taking any action.