Individual Voluntary Arrangement or IVA UK is a vital financial management avenue in UK. Individual Voluntary Arrangement is basically the signing up of new agreements by the creditors and debtors.
This results in the consolidation of all debt into one single unit where the debtor can pay back the creditors in an affordable way. IVA UK has established itself as the perfect financial management solutions to all those who are looking for an affordable solution to pay their creditors. Also, IVA UK protects a person from any kind of legal action taken by the creditors.
IVA UK and its clauses stated in the agreement halts any kind of legal action taken against a person by his/her creditors. However, one should remember that all credit card interests and other banking fee must stop immediately when one is under an IVA agreement. IVA serves as a great sigh of relief for all individuals and companies who have entered tough times of their financial disabilities.
IVA helps people in UK understand the various facts related attached with individual voluntary arrangements and how people can benefit in long terms by choosing this financial option than declaring themselves bankrupt.