{"id":9780,"date":"2014-01-20T14:24:06","date_gmt":"2014-01-20T14:24:06","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=9780"},"modified":"2019-06-04T16:54:24","modified_gmt":"2019-06-04T15:54:24","slug":"my-iva-agreement","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/my-iva-agreement\/","title":{"rendered":"My IVA agreement"},"content":{"rendered":"\n<p>If you\u2019re exploring the use of an Individual Voluntary Arrangement to\n get on top of your debts, it\u2019s vital that you arrive at an agreement \nthat suits you.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>An Insolvency Practitioner will advise you about your options in terms of an IVA, which allows you to <strong>pay your debts<\/strong>\n back in a way that is more manageable to you than your current credit \nagreements. If an IVA is successful, it can form a real step forward in \ngetting your finances into better shape in the future, but in order for \nit to be a success it has to be an agreement that is realistically \nmanageable to you.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"424\" height=\"283\" src=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/05\/Fotolia_167672628_XS.jpg\" alt=\"IVA Agreement\" class=\"wp-image-9797\" srcset=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/05\/Fotolia_167672628_XS.jpg 424w, https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/05\/Fotolia_167672628_XS-300x200.jpg 300w\" sizes=\"auto, (max-width: 424px) 100vw, 424px\" \/><\/figure>\n\n\n\n<p>Your income, outgoings and assets will all form part of the decision  making process when working out what to agree to. You will need to be  honest and realistic with yourself when proposing what repayments you  can make.<\/p>\n\n\n\n<p>Once you\u2019ve worked out the terms of the agreement that you want to \npropose, your Insolvency Practitioner will present this to the court. \nGenerally a meeting will then be held at which your creditors will \ndecide whether to accept the arrangement. As long as you keep to the \nagreement, your creditors cannot pursue your debts through the courts \nwhile the arrangement is in force, as it is a legally binding contract.<\/p>\n\n\n\n<p>One of the main advantages to using an IVA rather than going down the\n road of bankruptcy, is that an IVA generally gives you more control \nover what happens to your assets. This can be hugely important, \nparticularly when it comes to assets such as your home if you own it. \nYou should therefore discuss what should happen with the assets with \nyour Insolvency Practitioner when deciding on the terms of the IVA that \nyou wish to propose.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If an IVA is successful, it can form a real step forward in getting your finances into better shape in the future, but in order for it to be a success it has to be an agreement that is realistic &#038; manageable.<\/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-9780","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\/9780","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=9780"}],"version-history":[{"count":1,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/9780\/revisions"}],"predecessor-version":[{"id":9798,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/9780\/revisions\/9798"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=9780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=9780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=9780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}