Anonymous
Anonymous asked in Business & FinanceCredit · 1 decade ago

How does one go about having an independent valuer's assessment (IVA), in stead of bankruptcy?

Is it some thing one can do oneself, or does it need a solicitor and exta costs?

Update:

Sorry, the corect term is individual voluntary agreement, as Steve W pointed out.

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  • 1 decade ago
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    I assume you mean - Individual Voluntary Agreement ...

    Don't do this yourself, there are cheap services out there to do this. Pick a reputable one - national advertising is good, and check with the better business bureau to see if they have complaints.

    There are costs, but if you are in over your head, they can save you much more than they cost. There may be some "pro bono" types services out there if you are truly low on funds.

    If you try to do this yourself, your creditors will not take you seriously and it probably won't work out for you. If you only have a single creditor, that may vary, but if you have eleven credit card companies to coordinate then I wouldn't even try it.

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