IVA in the UK? has anyone had experience with this??

I am thinking about doing an IVA i know what it is and how you do it i was just wondering if anyone who has done this thinks it was the right decision or if they now regret it? can you tell me why either way thanks

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  • 1 decade ago
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    I'm currently considering the same, so will keep an eye on responses here. Sorry I can't actually advise anything myself.

  • 1 decade ago

    IVA voluntary arrangement

    the company get you debts and arranges payment to them all

    they write letter stating that you can only pay this amount and that they will collect payment from you and pay them there is a percentage they take for doing this .If you do not pay they will cause a lot of problems i would not use them .I used to go and do bankruptcies and i would have to see if they were fraudulent and a lot of people had use Iva and had to go bank rupt for more that they owed because they did not pay the Iva

    also you house is covered and you car only if you keep up with the payments get advice before dealing with these companies they make it sound easy

    i would write to the companies you self and arrange a monthly payment and if they do not accept them them its that amount or i will have to go bankrupt ,they will say OK they will accept

    if you do want to go bankrupt and you own a car on hp and a house they will put a charge on you property so when you want to sell you will have to pay it off when you sell your car will be taken as assets.if you do not own any you will be dept free for £450 pounds.

    good luck

  • Anonymous
    1 decade ago

    An IVA was designed to help those in debt and was introduced by the Government as a way for those in debt to avoid bankruptcy.

    If you are in debt and you qualify for an IVA. it is often the best way option for you.

    I know One Advice can offer great service and can offer you free advice and information:

    http://www.oneadvice.co.uk/page-IVA.html

    ^^ Try this site for more information.

    Don't know if this Debt Test will help you:

    http://www.oneadvice.co.uk/debt-wizard.html

    You put in your info and it shows you your options. Maybe an IVA isn't the best solution for you?

    Good luck.

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