IVA is your best Alternative Option to Bankruptcy

stock photo IVA or Individual Voluntary Agreements is a legal agreement between you and your creditors. In this agreement, you give a structured repayment program to your creditors. The IVA repayments depends on how much you can actually afford to pay back each month. Your creditors must accept 75% of the agreement. After it is accepted, IVA protects you from your creditors taking any legal action. Your assets are also protected from being seized by your creditors. You do not have to sell your home but you might need to release available equity from it via a re-mortgage. So, the IVA protects you from having to sell off your property. Your assets will remain intact. However, if you have a valuable asset that is not necessary for you, you might have to replace it with another asset and give the balance of money to your IVA fund. All your personal assets and household contents will be protected in the IVA. read more