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IVA Uk
IVA in the UK stands for Individual Voluntary Agreement. If you want advice on an IVA contact Alphabet now.
An IVA is a legally binding agreement that you make with your creditors.
In order to make an Individual Voluntary Arrangement, you must have debts of over £15,000 and insufficient equity in your home to cover them.
You must owe money to at least 3 different creditors and you must be able to consolidate your debts into a single monthly payment.
The advantage of an IVA is that you can often get the majority of your debts written off in order that you can then make a manageable monthly payment on the remainder of the debt.
For many people with significant debt problems, an IVA is seen as an attractive solution which avoids bankruptcy.
For more information on IVA’s and how we can help you, contact Alphabet today.
