IVA - Individual Voluntary Arrangement

IVA is a legally-binding arrangement between you and your creditors writing off up to 90% of your debts. It means reaching a compromise with your creditors to settle your debts within a reasonable, fixed period of time and at the same time, avoid the consequences of bankruptcy. An individual who is intending to propose an IVA can apply for an Interim Order, the interim order basically prevents all creditors from pursuing any legal proceedings against you. If legal proceedings have been commenced, then they are frozen at the stage they have reached. Read more about IVA

Keith White, IVA Advisor, from IVA.com talks about IVAs. Contact Keith White directly here.

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The above is provided as information only. Iva.co.uk does not provide debt advice. You must always seek professional advice before taking any action to resolve your debts.