Paul Goodman

IVAs stand for Individual Voluntary Arrangements, a method to end difficult debt problems using a manageable repayment plan with a single, fixed monthly repayment plan They last at least 5 years and at the end they can write off all the debts they applied to

Recent research by UK charity Credit Action showed that by October 2010, 1,556 people were made redundant daily; 1 property was repossessed every 14 minutes and in just under every 4 minutes 1 more person declared insolvent or entered bankruptcy UK consumers who miss debt repayments can find they receive telephone and letters demanding repayment

UK consumers who are finding they cannot meet debt repayments on time may choose to consider entering an IVA Properly arranged and managed Individual Voluntary Arrangements create a managed repayment schedule, with monthly instalments typically over five years

The ins and outs of an IVA (Individual Voluntary Arrangement) can seem confusing, least of the question of what advantages it might have for you We explain some of the key benefits and some considerations you can think about before taking further individual debt advice

People facing debt problems are often under pressure and it can be difficult to know where to begin to sort unmanageable finances out This article presents a summary of legal debt management options available for different circumstances in straightforward language to help you before contacting an expert for impartial debt management advice

For people who find they simply can’t the payments for their debts, an Individual Voluntary Arrangement (IVA) is sometimes used to provide a legal solution to the problem You may find some conflicting or even untrue information in advertising by some less conscientious companies who arrange them