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Step 1 - How much do you owe?
Make a single, management monthly repayment towards all unsecured debts included in an IVA for a set period of time and write off what you can no longer afford.
An IVA is a formal debt solution aimed at people who owe more than £6,000 and who can afford to make a minimum single monthly payment towards all of the debts included in the IVA. Payments usually continue for a period of 5 years, after which time all remaining unsecured debts that were included in your IVA are written off along with accrued interest and charges.
As with an debt solution, it is important to that you seek professional advice before you enter into an IVA. Contact us today for the advice that you need.