{"id":4073,"date":"2014-01-30T09:44:09","date_gmt":"2014-01-30T09:44:09","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=4073"},"modified":"2019-05-03T09:47:31","modified_gmt":"2019-05-03T08:47:31","slug":"iva-and-secured-loans","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/iva-and-secured-loans\/","title":{"rendered":"IVA and Secured Loans"},"content":{"rendered":"\n<p>If you\u2019re struggling to make the payments for secured loans, for \nexample loans that use your home or another possession such as a car for\n security, there are a number of things you can do to relieve the \nsituation.&nbsp;However, Individual Voluntary Arrangements (IVAs) are \nprimarily intended for use with unsecured borrowing such as credit cards\n and loans that do not have assets used as security.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>If you have multiple different types of debt, for example a \ncombination of secured and unsecured borrowing, an IVA may help with \nthose debts that are not secured. Even if your primary struggle is with \nthe secured debt, providing your unsecured debt is substantial enough, \nyou may be able to get an IVA and use this to take the pressure off your\n other debts.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft\"><img loading=\"lazy\" decoding=\"async\" width=\"424\" height=\"283\" src=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/05\/Fotolia_115196742_XS.jpg\" alt=\"Debts and no money\" class=\"wp-image-4082\" srcset=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/05\/Fotolia_115196742_XS.jpg 424w, https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/05\/Fotolia_115196742_XS-300x200.jpg 300w\" sizes=\"auto, (max-width: 424px) 100vw, 424px\" \/><\/figure><\/div>\n\n\n\n<p>If you\u2019re potentially facing bankruptcy, the first thing you need to \ndo is speak to a debt professional such as an Insolvency Practitioner. \nThese are people who specialise in matters of bankruptcy and insolvency,\n and they can advise you as to which measures will help you to avoid the\n worst consequences.<\/p>\n\n\n\n<p>If you have many different debts and they are becoming generally \nunmanageable, it is likely that a combination of measures will be the \nbest way forward. In this case an IVA may well be one of those measures,\n and using one for some of your debts may free up some of your resources\n and help get your secured debt back to a manageable level.<\/p>\n\n\n\n<p>Although secured loans are not generally included as part of an IVA, \nyour IP may suggest exploring one in conjunction with other measures. \nYou can also consider options such as consolidation and other debt \nmanagement programs, but it\u2019s best to be wary of replacing debt with \nfurther borrowing, especially those types that put your assets at risk.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IVAs are primarily intended for use with unsecured borrowing such as credit cards and loans that do not have assets used as security.<\/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-4073","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\/4073","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=4073"}],"version-history":[{"count":2,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/4073\/revisions"}],"predecessor-version":[{"id":4088,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/4073\/revisions\/4088"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=4073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=4073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=4073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}