{"id":3252,"date":"2014-01-20T14:58:02","date_gmt":"2014-01-20T14:58:02","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=3252"},"modified":"2019-11-18T12:49:40","modified_gmt":"2019-11-18T12:49:40","slug":"overview-of-an-iva","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/overview-of-an-iva\/","title":{"rendered":"Advantages of an IVA"},"content":{"rendered":"\n<p>When you find yourself in the position where you can no longer meet  your debts, it can seem like you have fewer and fewer options left to  explore as time passes. <\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Working out which options are worth exploring  can seem like a real task, but if you arm yourself with the right  information you can work out a solid plan of attack to get your finances  sorted.<\/p>\n\n\n\n<p>There are a number of advantages to using an Individual Voluntary Arrangement.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Avoid Bankruptcy<\/h2>\n\n\n\n<p>Firstly, an IVA can be an effective tool in avoiding bankruptcy. As  well as saving you from the restrictions and numerous other undesirable  consequences of going bankrupt, an IVA tends to cost less that  bankruptcy.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"693\" height=\"693\" src=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/03\/Fotolia_62171965_S.jpg\" alt=\"Credit card debt\" class=\"wp-image-3257\" srcset=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/03\/Fotolia_62171965_S.jpg 693w, https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/03\/Fotolia_62171965_S-150x150.jpg 150w, https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/03\/Fotolia_62171965_S-300x300.jpg 300w\" sizes=\"auto, (max-width: 693px) 100vw, 693px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Manage Debts<\/h2>\n\n\n\n<p>An IVA allows you the real chance to get on top of your debts. \nThere\u2019s no restriction on the amounts of debt that can be involved \n(upper or lower), nor on the amount of repayments that you propose to \nmake. Given that they\u2019ll likely retrieve more of your debt back than if \nyou become bankrupt, creditors do tend to be amenable to IVAs so it can \nbe a win-win situation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Control<\/h2>\n\n\n\n<p>Using an IVA also allows you to have a greater level of control over \nwhat is going to happen with your assets. This can be hugely important, \nparticularly for example if you are a home owner, in which case you may \nnaturally want to keep your home.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Flexible<\/h2>\n\n\n\n<p>In general, an IVA offers a greater degree of flexibility. You only \nhave to propose what is realistically manageable for you, and by working\n with an Insolvency Practitioner you can arrive at a plan that suits \nyou.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Better Future<\/h2>\n\n\n\n<p>If you do manage to keep up with the terms of your IVA, it can form a\n solid foundation for getting your finances in better health in the \nfuture.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An IVA can be an effective tool in avoiding bankruptcy. As well as saving you from the restrictions and numerous other undesirable consequences of going bankrupt.<\/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-3252","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\/3252","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=3252"}],"version-history":[{"count":3,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/3252\/revisions"}],"predecessor-version":[{"id":12590,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/3252\/revisions\/12590"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=3252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=3252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=3252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}