Benefits of an IVA
•An IVA is a legally binding agreement. This benefits the creditors too.
•An IVA can help protect your property from repossession. This benefits the whole
•An IVA avoids the social stigma of bankruptcy and embarrassment.
•If you set an IVA up via Money Advice Direct there will be no costs in advance to
set up the IVA.
•With an IVA you can remain a company director. This benefits all involved in the
IVA Benefits: For the creditors
•The costs of administering an IVA are considerably lower than in
bankruptcy, enabling a higher return and benefits to creditors.
•IVA's operate as an insolvency procedure and creditors can as a
consequence of this, still reclaim tax and VAT relief as a bad debt.
Other IVA benefits
•We may well be running a small business which would be difficult to keep
going if we were bankrupt.
•We may be a profession where we could lose our job if we go bankrupt such
as accountancy/police/armed forces.
•We may have access to a large lump sum and want a formal arrangement with
our creditors to accept the lump sum and write off the rest of the debts.
•We may have a very high monthly available income to make payments.
Money Advice Direct
Gable House,239 Regents Park Road
License Number- 592071
Registration number- Z9668806
Phone:0800 074 6918