In the event of insolvency or otherwise, it is pertinent that you are certain of the debt management system you are about embarking on by getting yourself acquainted with the iva pros and cons. When someone is at the verge of going bankrupt, it is essential to know all that is required of different debt management solutions with the sole aim of coming up with a right decision. With an individual voluntary agreement, you will be able to pay an affordable amount of money per month. In the case where you have extravagant debt levels, there is a tendency that you will be required to pay a great sum of money monthly in which a great proportion of this will be for your charges and interests. However, with an individual voluntary agreement, you will be able to pay an affordable amount as low as £200 monthly.
One of the several iva advantages is the protection offered from repossession. In contrast to bankruptcy, an individual voluntary agreement will be able to provide protection for your assets. In other words, your home and your car will be protected from repossession for the period of time you do not have much equity. An individual voluntary agreement also saves you from any court action coupled with the fact that it does not give room for creditors to bring about any demand of you. Similarly, for business entrepreneurs, there exist the advantage of continuing to trade regardless of the fact that they have signed an individual voluntary agreement. For more information visit website #https://www.ivaonline.co.uk/iva-pros-and-cons.html.
No comments:
Post a Comment