Ancap Agency

Key Advantages of IVAs

Coping with unmanageable debt can feel stressful, so you may find this breakdown useful before moving onto obtain good quality debt advice. IVAs are legal agreements that create a plan to regularly repay more manageable, fixed amounts over 5 or more years. Unlike bankruptcy, your name isn’t published in local newspapers, only on an online Insolvency Register. This is not a well-known resource, so your status stays more discreet. An IVAstops phone calls and letters demanding repayments, interest/late payment charges and any new court action. If you keep to the agreement, outstanding debts are written off at the end and you can begin restarting your credit rating.  The key to gaining those advantages is advice from independent and impartial debt management experts. They should check it’s the best option for your circumstances and create plans you’re likely to manage to keep to throughout the life-time of the agreement.

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