What is the procedure for getting an (IVA)?
An IVA is a debt solution that allows you to repay a portion of your debt to your creditors through a legally binding arrangement. If an IVA is right for you, you’ll want to know how to get IVA advice and what the procedure entails.
If you’re considering an IVA as a debt solution, you should seek professional counsel first to ensure that it’s right for you. An IVA has both advantages and disadvantages, which you should be aware of before deciding whether or not to engage into one.
In this section, you’ll learn how to get an IVA, How can I get IVA approved fast? and who can handle it for you.
What is an IVA and how does it work?
You make 60 or 72 monthly payments to your total debt under an IVA, or you give a lump sum settlement.
Your finances will be evaluated annually as part of the IVA, and you and your creditors will receive a progress report. You’ll also be alerted when the IVA is finished.
How can I get an IVA approved fast?
Your creditors will be asked to vote on whether or not to approve your IVA in a meeting of creditors. It is up to your creditors to decide whether or not to accept your IVA, and we cannot force them to do so. Most creditors, on the other hand, will look favorably on your IVA proposal if it includes your best offer.
75 percent of your creditors must vote in favor of your proposal in order for it to be accepted. You’ll be safe from legal action to recover the debts after it’s been approved.
Do you want to apply and get IVA?
Use our online debt guidance tool before thinking about filing for an IVA. This will provide you with unbiased and customized advice on whether an IVA is the best solution for you.
I hope by now you must have understand what is IVA and some information about about how and why IVA is the good option to choose if you are looking to settle your debt effectively and easily. Here at IVAOnline we try to resolve all your IVA related Issues and guarantee you to make your financial journey much easier than previous.
Get your IVA advice today!
We’re here to assist you. Debt counsel is now available for free online. If you seeks any kind of the IVA related help or advice contact us.