Individual voluntary arrangement popularly called
IVA is one of the most interesting and most convenient ways of settling debt
that has become a burden. This method of debt settlement is good for both the
creditor and the debtor. This is because the creditor gets paid regularly; on a
monthly basis. This might be something that didn’t happen under any previous
debt servicing agreement. And as for the debtor, it is hugely beneficial
because he pays back his debts with intent and he pays the amount that is safe
for him to pay per month such that the quality of his life and that of his
family is not affected negatively. These benefits are so huge that it makes
life easier for the debtor and makes the creditor have hope that the debt they
are owed would be paid. But as fantastic and amazing as this system is, it is
important to also know that they have their advantages and disadvantages. In
this article, we deal with the iva pros and cons that you should know.
Key IVA Advantages For You To Know
The following are some of the benefits of using the
IVA service. If you want to apply for this method, you should know the huge
benefits that you would enjoy because of it. The following are some of the
benefits that you have to enjoy from this scheme:
·
Easy
debt write-off. This is the endgame of individual voluntary arrangement. The
goal is to get your debts written off and not just serviced. This is one of the
major iva advantages that you should know. At the end of your IVA, you are not
closer to having your debts paid, but you become completely debt free.
·
Safe
from harassment by creditors and other interest figures. Without an IVA, you
can easily be approach and visited in your home and threatened with seizure.
But once you take on IVA, one of the biggest benefits you enjoy is the fact
that you never have to suffer from such harassments. This is also one of the
great iva advantages that you should know.
Click here to know more about #ivaadvantages www.ivaonline.co.uk/iva-pros-and-cons.html.
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