{"id":9571,"date":"2014-01-21T12:32:54","date_gmt":"2014-01-21T12:32:54","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=9571"},"modified":"2019-05-16T12:43:26","modified_gmt":"2019-05-16T11:43:26","slug":"iva-options","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/iva-options\/","title":{"rendered":"IVA Options"},"content":{"rendered":"\n

IVAs or Individual Voluntary Arrangements can be a great way for you to get your problem finances<\/strong> under control. These arrangements can stop debts from spiralling out of control, and give you the chance to start rebuilding the foundations for a healthy financial future. However, there are a number of choices that an IVA will involve, and these can have a substantial effect on its success or failure.<\/p>\n\n\n\n\n\n\n\n

If you\u2019re considering going down the route of using measures such as \nan IVA, you\u2019ll need the legal services and advice of a licensed \nInsolvency Practitioner. An IP will help you to take the decisions \ninvolved, and will be best placed to explain to you the implications of \nthe various choices at hand.<\/p>\n\n\n\n

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In order to use an IVA, you will first need to make a proposal to your creditors regarding the debts you owe<\/strong>\n them. This proposal forms the basis for the agreement, and will outline\n the terms that you will need to stick to for the full term that the \narrangement is going to run. Your creditors will have the choice as to \nwhether your proposal is acceptable to them or not, and your IP will \nhelp you to come up with one that is likely both to appeal to them and \nto be effective from your point of view.<\/p>\n\n\n\n

It is imperative that your proposal is actually going to be \nmanageable for you as time passes. If the agreement fails, i.e. if you \nfail to keep up with the required payments, your creditors will again be\n able to pursue you legally for your outstanding debts. For this reason \nit\u2019s well worth thinking carefully about the payments you think you can \nmake as part of the IVA.<\/p>\n\n\n\n

The creditors concerned may also request changes to be made to the proposal before they will agree to accept it. If this happens you will need to work out, along with your IP, whether the requested changes are going to be acceptable to you.<\/p>\n\n\n\n

Sometimes having an IVA may require you to release equity from your \nhome, for example. In most cases an IVA is used for people who have few \nremaining options, for example bankruptcy, and so this may be a price \nworth paying to stop your situation from getting to this stage.<\/p>\n\n\n\n

The main thing to bear in mind if you are pursuing an IVA, is to make\n sure you get all of the information and guidance you can before going \nahead with anything, that way you\u2019re much less likely to have regrets.<\/p>\n","protected":false},"excerpt":{"rendered":"

In order to use an IVA, you will first need to make a proposal to your creditors regarding the debts you owe them. <\/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-9571","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\/9571","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=9571"}],"version-history":[{"count":1,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/9571\/revisions"}],"predecessor-version":[{"id":9597,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/9571\/revisions\/9597"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=9571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=9571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=9571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}