Category: Other

In the UK, an individual voluntary agreement is a legally binding option for those wishing to prevent bankruptcy from ruining their financial future. An IVA is an agreement between two parties. The Individual Voluntary Arrangements Commission is the body that runs the IVA scheme, which has been subject to reviews in recent years following concerns that it was being abused by unscrupulous firms. There are various benefits of IVAs, however, and this article will take a look at just some of those benefits. IVAs are a great way for consumers to overcome their debt problem and can even offer them the opportunity to start over again with a fresh slate.