An IVA or individual voluntary arrangement is an agreement between you and all your creditors, essentially all those you owe money to. An IVA is usually arranged when you are having problems paying off your debts. An insolvency practitioner will look at your finances to work out a realistic amount that you can afford to pay.
The IVA or individual voluntary arrangement can go ahead as long as three quarters of your creditors agree to the proposed payment arrangement. When an IVA has been agreed, the creditors are legally bound and cannot suddenly demand that the debt be paid in full.
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An IVA is generally viewed as adverse credit and can affect any loan applications you may make as some loan brokers may be reluctant to offer loans with IVAs.
Our relationship with specialist loan providers means that more often than not, we can find an IVA loan that will suit you. We can do all the hard work, locating the right IVA loan provider, reducing your stress and worry.
Here are a few options to find the best loans with IVAs:
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