{"id":1585,"date":"2013-12-18T11:03:30","date_gmt":"2013-12-18T11:03:30","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=1585"},"modified":"2019-02-12T16:11:26","modified_gmt":"2019-02-12T16:11:26","slug":"who-does-an-iva-benefit","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/who-does-an-iva-benefit\/","title":{"rendered":"Who does an IVA benefit?"},"content":{"rendered":"\n<p>For an <strong>Individual Voluntary Arrangement<\/strong> or <strong>IVA<\/strong>  to work, each of the stakeholders needs to benefit from a successful  conclusion to the process and these benefits need to be quantifiable and  transparent from the start of the process.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p> The obvious stakeholders are the debtor and the creditors but the supervisor of the <a href=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-help\/iva.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">IVA<\/a> is also a stakeholder in the process<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">An IVA Benefits the Person\/s in Debt<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>An <strong>IVA<\/strong> will help you regain control of my finances and end the constant worry about being able to pay your bills.<\/li><li>An <strong>IVA<\/strong> will stop the current of mail from your creditors and the incessant calls from debt collectors.<\/li><li>With an <strong>IVA<\/strong> you could hold on to your family home.<\/li><li>You can freeze the penalties and interest that keep accruing on your accounts, mainly your credit cards.<\/li><li>Keep your neighbours, friends and family from finding out about your financial\/<strong>debt problems<\/strong>.<\/li><li>Avoid the shame and stigma of bankruptcy with an IVA.<\/li><li>Keep your job.<\/li><li>Repay your creditors as much as you can realistically afford.<\/li><li>Conclude the process in a reasonable number of years.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">An IVA Benefits the Creditors<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Recover a reasonable amount of the monies owed to you by the debtor.<\/li><li>Avoid incurring the costs of making the debtor bankrupt.<\/li><li>Avoid the direct and indirect costs of recovering the debts via debt collection agencies.<\/li><li>Provide shareholders with a balance sheet, truly recording the level\n of recoverable debt and making realistic bad debt provisions.<\/li><li>Enhance your company reputation for treating customers fairly by enabling the debtor to pursue a feasible financial solution.<\/li><li>Obtain tax relief on bad debt against profits.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">An IVA benefits the Insolvency Practitioner<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Enable the debtor to address his financial problems by ensuring that  he has received advice on all his options and that the proposals for an  IVA are feasible, fair to the debtor and to the creditors, fit to be put  to the creditors for their consideration with a reasonable expectation  that the debtor will meet the terms of the proposal. <\/li><li>Meet the challenge  of finding the best solution for the client in accordance with the  insolvency laws.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>For an Individual Voluntary Arrangement or IVA to work, each of the stakeholders needs to benefit from a successful conclusion to the process and these benefits need to be quantifiable and transparent from the start of the process.<\/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":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-1585","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\/1585","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=1585"}],"version-history":[{"count":3,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/1585\/revisions"}],"predecessor-version":[{"id":2003,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/1585\/revisions\/2003"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=1585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=1585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=1585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}