Advice for Individual Voluntary Arrangement

An Individual Voluntary Arrangement is a legally binding agreement between you and your creditors. The arrangement will normally last 5 years and during this period, you will pay what you can afford outside reasonable living costs. An IVA has to be set up by a licensed insolvency practitioner (IP). All interest and charges will remain frozen. Creditors will not be allowed to demand additional payments. Monthly payments will be based on your monthly income. If you want to get more

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