The key is to compare IVA proposals to that of what creditors might receive if the IVA is rejected and Bankruptcy ensues.
The IVA should be the same or more attractive that BKY for creditors to find it attractive enough to vote in favour of the IVA.
Your Nominee should be able to advise for you.
If you enter into an IVA for 5 years at 40 that is just over a 10th of your life you are committing to it at least (and that does not include how long it could take to be closed).
A 17 year IVA would be a third of your life if you took it out at 40.
A lot can happen that is outside of your control and that includes being moved to another company and there has been one case where an IVA company itself went insolvent leaving everyone in limbo.
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