An IVA (Individual Voluntary Arrangement) is a way of clearing unmanageable debt without declaring yourself bankrupt - something which may be particularly important for homeowners, as they’d be very likely to lose their property if they were declared bankrupt. An IVA, on the other hand, is extremely unlikely to force the sale of their property. True, they’d probably have to commit to releasing equity* from their property towards the end of the IVA, so they could increase the amount they’re
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Will my home be safe if I enter an IVA?
