IVA means Individual Voluntary Agreement and gives people piece of mind when it comes to their finances. Having an IVA gives you the option of repaying your debt to a level that meets with approval from your creditors while at the same time the IVA gives you the freedom that bankruptcy or having your assets seized would hinder or even stop you from doing any future business or for applying for credit or a loan.

 The IVA is brokered with an independent supervisor who will aim to give you the flexibility to repay within your budget to a standard that meets with approval from your creditors. Remember that your creditors would like to see you repay your debt to them and if you declared bankruptcy there is a good chance that they would never get a satisfactory level of repayment and as such their business practices would suffer. An IVA would aid all parties concerned as it provides your creditors with the knowledge that you intend to repay and stick to a repayment program whilst at the same time giving you piece of mind regarding the amount that you will have to pay monthly and the amount you will have to pay.