Is an IVA right for you?

People’s financial problems are spiraling out of control in the UK, so it’s no surprise that an IVA has become a fast growing debt solution. An IVA is the best alternative to filing for bankruptcy which will destroy your credit for many years.

If you own a home an IVA is most certainly a good option for you. Filing for bankruptcy will most certainly mean that your home, which you worked hard for, will ultimately be taken away. An IVA is a way to keep your home as long as you are able to make the IVA payments.

Are you in a specialty profession such as an accountant? Financial Advisor? Maybe you’re a banker? A bankruptcy would certainly destroy your professional status, while an IVA will allow you to maintain your professional status.

Do you have a large amount of unsecured personal loans or credit card debt? An IVA could be for you. It certainly beats personal bankruptcy. It can be hard to find a new job if you’ve filed for bankruptcy. An IVA is definitely less scrutinized than bankruptcy.