what are the pitfalls of an IVA

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chris c

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Post by chris c » Tue Jul 15, 2008 3:04 pm
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hi I have been approched by Debt free help line I dont know who they are but the lady was extremly pushy to get me to sign up with them. when I said I wanted to think about it she nearly snapped my head off but she sai

Also this is something new to me what are the pitfalls of an IVA for instance if say in a few years I wanted to get a mortgage would this be a black mark on me?
or on my credit ect...
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MelanieGiles

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Post by MelanieGiles » Tue Jul 15, 2008 3:10 pm
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Hi Chris and welcome to the forum

That sort of behaviour is enough to put anyone off using a particular firm! Why not have a look at my blog about choosing an advisor, which might give you some tips about things to look for and questions to ask, and then try out two or three firms by way of comparison.

An IVA is a good way of repaying your creditors, and avoiding bankruptcy, but it will affect your credit rating for six years - which may affect your ability to get a mortgage.
Regards, Melanie Giles, Insolvency Practitioner
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