{"id":12004,"date":"2011-10-31T14:52:22","date_gmt":"2011-10-31T14:52:22","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=12004"},"modified":"2019-10-31T14:59:23","modified_gmt":"2019-10-31T14:59:23","slug":"what-happens-after-an-iva","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/what-happens-after-an-iva\/","title":{"rendered":"What happens after an IVA?"},"content":{"rendered":"\n

If you\u2019re considering going for an IVA, you need to be sure that you \nunderstand its implications in both the short and long term. In the \nright circumstances, a successful IVA can not only handle your immediate\n debt problems, but can put you in a position to work towards real \nfinancial stability in the future.<\/p>\n\n\n\n\n\n\n\n

One of the most stressful aspects of having debt problems is how \nunpredictable and unsettling the situation can be. If you cannot manage \ndebts, and there is a risk of bankruptcy, it can seem like you will \nnever again be solvent. However, this is not necessarily the case, and \nIVAs regularly help people to successfully avoid bankruptcy.<\/p>\n\n\n\n

Unlike bankruptcy, IVAs are a way to retain control over your debts, \nand to renegotiate them rather than giving up responsibility for them, \nwhich is essentially what happens with bankruptcy. An IVA is a way to \nsettle your debts that is more manageable to you than your current \nagreements with creditors.<\/p>\n\n\n\n

\"IVA<\/figure>\n\n\n\n

Individual Voluntary Arrangements are tailored to suit your financial\n circumstances, and should not involve you paying more than you can \nrealistically manage, while still maintaining a good standard of living.\n When you put forward an IVA proposal, providing enough of your \ncreditors agree to it, it will go ahead for all of the debts you have \nproposed it for.<\/p>\n\n\n\n

Typically, at the end of an IVA, if you have successfully managed to \nkeep making the payments required, you will have paid only a portion of \nthe debts that you originally owed. However, your creditors are \nprevented from further pursuing these debts, as they agree to consider \nthe debts settled at the end of any IVA they sign up to. This means that\n your debts will no longer be hanging over you, and you can move on with\n your life.<\/p>\n\n\n\n

While the IVA is elapsing, you cannot get other credit. However, once\n it is complete, you are again free to do so. The impact on your credit \nrating of an IVA is far better than in bankruptcy, and so there is a \nreal opportunity to work on improving your credit status over time.<\/p>\n","protected":false},"excerpt":{"rendered":"

Typically, at the end of an IVA, if you have successfully managed to keep making the payments required, you will have paid only a portion of the debts that you originally owed.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-12004","post","type-post","status-publish","format-standard","hentry","category-iva-articles"],"_links":{"self":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/12004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/comments?post=12004"}],"version-history":[{"count":1,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/12004\/revisions"}],"predecessor-version":[{"id":12018,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/12004\/revisions\/12018"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=12004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=12004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=12004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}