What is an IVA?
You have probably heard about it but you don’t know for sure how this could help you. It is very simple. IVA will help you to pay off your debts in less than five years! Moreover, you will have the benefit of legal protection, which means that, in this period, you won’t have to pay any interests or delay penalties.
To take advantage of this individual voluntary agreement you only have to sign a formal agreement with your creditors. Through it, you will have the possibility to pay a percent of your debt in a determined period. IVA represents also the best solution for the ones that have too many debts and are trying to avoid bankruptcy and its negative effects.
Moreover, it is offering you a better handling of your debts and also the assurance that you won’t accumulate any more debts during your contract. IVA has no limits regarding debtors. It is addressed to a person that has a regular income and which, in the past, applied for loans and is not able to pay them off in the present. So, if you think that bankruptcy remained the only way out to get rid of debts, give it another thought! If you find yourself in this situation, IVA is the best debt solution for you. In a few words, signing these individual voluntary agreements means that your creditor will reduce the amount of money that you owe in change of your commitment to pay monthly a percentage of your income, during the next five years. The first thing that you have to do is to ask specialized advice.
Financial counselors will help you find the best creditor with the most appropriate conditions and criteria for your financial situation. They will present you the market offers and once you decided upon some, counselors will send your file to the lenders you selected. Once the IVA is signed, your debt will be reduced and monthly payments will start. So don’t follow the final solution of declaring yourself bankrupt.
Apply for individual voluntary agreement and provided you maintain payments – five years you will simply delete all your unsecured debts!
