When you have debt issues you might have discovered your friends or advisers you’ve spoken to chat about a debt alternative known as the IVA or Individual Voluntary Arrangement. The intention of these advertisements and generating search engine terms This Way is to Attempt to get one to think either
Neither of them is accurate.
The IVA was in existence since 1986 and has been introduced through the Insolvency Act of the year.
The IVA has not been encouraged by Government. It’s but one of a variety of options available to people licensed to offer debt alternatives in England and Wales. It’s highly promoted and in my estimation mis-sold since the firms who offer it may earn a great deal in fees out of it and people that are charged with selling it to the organizations are heavily commissioned by”selling” this alternative.
My advice to anybody who has called one debt supplier and has been advised that the IVA is your alternative for them would be to have another opinion from that a firm that doesn’t only offer you the IVA. A company like our for example. We’ve got zero incentive to drive you down some specific debt solution. We’ll always supply you with the very best solution for your situation. In case it appears to be an IVA, good great, if not we will not suggest it only to make a fee.