An IVA is an agreement worked out between a borrower and a creditor, wherein the borrower agrees to pay them back as much as you can within a period of not more than 5 years (60 months). There are various advantages of an Individual Voluntary Arrangement. To start with, the creditor agrees to wipe off [...]
It is extremely important within the current climate and worsening economic conditions that consumers are forearmed with detailed information on their options and rights. Should they find that their situation becomes intolerable as a result of circumstances beyond their control the right advice and options are essential. Debt can seem like a bottomless black hole [...]
A business contract is an interchange of any promise or a set of promise between 2 or more parties (E.g.: Business partners/Customers) to do or prevent from doing an act which is enforceable in a court of justice. Any party who breached the contract may be wrong and liable to pay for compensation. It is [...]
The alternative to this is called an Individual Voluntary Arrangement . An IVA is a legal agreement through the county court and the debtor to pay off debts over a predetermined time. The length of term is usually about 3 to 5 years with …
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Individual Voluntary Arrangement - The Alternative to [...]
IVA Questions and Answers