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Tuesday, March 20, 2012

IVA (Individual Voluntary Arrangement)

  Debt is becoming more of a way of life these days, so much so that almost everyone (and I do mean everyone) has at least a little. So when you find yourself in over your head it is important to remember first that you are not alone, and second that there is help.

 The UK offers what is called an IVA. If you are unfamiliar with the term it stands for Individual Voluntary Arrangement, and what that means is this;

If you have:

  • debts over £15,000
  • Owe money to at least 2 different creditors
  • and are able to offer £150 per month 
 You may qualify for an IVA. You can use an IVA to lump your existing debt into one payment, as well as get your creditors to agree to a smaller pay off.


 If this sounds beneficial to you I invite you to read more at www.iva.net.

Living Simplistically and it's affiliates do not endorse IVA's. We are in no way saying that this is a 100% plan. If you choose to use an IVA you do so at your own risk.

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