|
|
|
| Q. | What are the advantages of an IVA? |
| A. |
We help you to calculate what you can afford, and you make just one payment to your client account by standing order each month. The payment amount is the same over the whole period of the IVA unless your circumstances change and you can afford more. Typically, your circumstances will be reviewed annually.
Once your IVA is approved, all of your creditors are legally bound by its terms, as long as you keep paying your agreed monthly sum.
Once the agreed term of your IVA is over (usually after 5 years) you have no further obligations to your creditors. At this point you stop paying the monthly sum, and can start afresh.
Your employment will probably not be affected. In fact, your employers will not know about your IVA unless you choose to tell them.
Unlike bankruptcy, an IVA is not advertised in the local press and does not exclude you from running a business or lead to many professions terminating your employment.
|
|
|
|
|
|
|
| |
 |
|
Chartered Certified
Accountants in London
London - Head office
The Grange
100 High Street
London
N14 6TB
DX:34310 Southgate
t: +44 (0)870 850 6007
f: +44 (0)870 850 6008
London - City
111 Charterhouse Street
London
EC1M 6AW
t: +44 (0)870 240 3007
f: +44 (0)870 240 3008
|
|
 |
| Subscribe to our newsletter below. Just enter Your first name & primary email address. |
|
| |
|
|
|
|
 |
|
 |
|
|
|
.gif){kind=small}
