An individual voluntary arrangement (IVA) is a formal and legally binding agreement between you and your creditors to pay back your debts over a period of time. This means it’s approved by the court and your creditors have to stick to it. An IVA can be flexible to suit your needs if you owe more …
This completely depends on your circumstances. While going for an IVA You have to manage your Income and Expenditure on that way, Which can let you save some money every month after your Expenses and Repayments, so that you can prove your mortgage provider you have sufficient funds to go for the Mortgage Repayments. Although, …
An IVA won’t affect your credit score for long. It will normally only be kept on your credit file for six years in total. This is because an individual voluntary arrangement usually lasts for five years, and after it ends it will remain on record for one more year. Six years is a significant amount …
