Top 10 key facts about IVAs

When searching for IVA facts it's crucial that you ask the right people.

Unfortunately, the facts surrounding IVAs are often exaggerated in an attempt to make IVAs more appealing, the fact is though in the correct circumstances the IVA is appealing enough anyway.

At My IVA Adviser we would much prefer to outline the IVA facts for you and allow you to make your own mind up.

Top 10 IVA Facts

So here are 10 Key facts about IVAs:

  1. IVAs have a fixed term, which is normally 5 years.
  2. IVAs will legally write off any outstanding debt when the IVA finishes.
  3. Monthly repayments are set at an affordable amount prior to the IVA starting.
  4. Only unsecured debts can be included in an IVA
  5. Only total debt levels over of £10,000 will qualify for an IVA.
  6. An IVA stops creditors from taking legal action against you.
  7. An IVA is a formal alternative to bankruptcy.
  8. IVAs are private agreements and are not published in the press.
  9. Only an Insolvency Practitioner can administer an IVA.

The list above is not exhaustive as there are plenty of other important facts surrounding IVAs we've not listed here.

If you'd like to discuss any of the facts above, why not give our helpline a quick call on 0800 088 7503 where an IVA adviser is waiting to have a chat with you now.

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My IVA Adviser are IVA specialist, so if you're looking to apply for an IVA and are looking for the best IVA company to approach, simply call 0800 088 7503. Or fill in the form below and we will call you back at a time convenient to you.

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