In the UK an IVA is an Individual Voluntary Arrangement and is a formal agreement between you and your Creditors. An IVA is usually appropriate for someone who cannot make their regular monthly repayments but can make a payment after paying their other expenses. An IVA proposal details how you will repay your Creditors and usually lasts over a period of five to six years.
In this post you can find links to a list of organisations who can help you with your debts if you live in the UK. It might seem daunting getting help with your debts but just remember that taking those first steps will put you on a road to a better financial future. StepChange StepChange was founded in 1993 and helps a large number of