IVA Articles
Articles and Information on everything related to IVAs
IVA : Do I Really Need An IVA?
The question as to whether an Individual Voluntary Arrangement (IVA) is appropriate or not, is always a difficult one and has to be carefully considered, it needs to be balanced against many factors.
By the time someone is considering the possibility of an Individual Voluntary Arrangement (IVA) most alternatives will have been looked at.
What are my alternatives?
The list of alternatives depends on circumstances, and for this exercise I am going to assume that the necessary criteria to qualify for an IVA have been met.
Remortgage
A remortgage may be the best way of releasing money to offset debt. Check this link to see if there is enough releasable equity to consider an Individual Voluntary Arrangement.
Consolidation Loans
Consolidation loans are effective in reducing monthly payments by grouping several smaller debts with higher interest, together over a longer term. Check this link for a more detailed explanation on how a consolidation loan could help in your decision about an Individual Voluntary Arrangement (IVA).
Debt Management Plans
Debt Management Plans are useful if an Individual Voluntary Arrangement (IVA) is considered to be too formal. Debt Management Plans are informal agreements and are therefore more flexible. Visit this link to discover the Pros and Cons between an Individual Voluntary Arrangement (IVA) and a Debt Management Plan.
Bankruptcy
Bankruptcy is something anyone entering into an Individual Voluntary Arrangement (IVA) has to consider. In some circumstances a professional position or a contract of employment may prohibit a bankruptcy, leaving an Individual Voluntary Arrangement as the preferred choice. Follow this link to evaluate the differences between an Individual Voluntary Arrangement (IVA) and Bankruptcy and to read a more in depth article.
If you would like to talk to an experienced debt adviser about Individual Voluntary Arrangement or any of the issues discussed above call 0800 088 7503 or visit myIVA-Adviser.com and download any of our free guides designed to help you make your decision about an Individual Voluntary Arrangement (IVA).
