Individual Voluntary Arrangement
If you have reached the stage that you are struggling to keep up with your monthly repayments on your debts, whether you are struggling to make them on time or struggling to make them at all, then you are probably feeling the pressure every day. It can be incredibly difficult to know which way to turn, but a debt expert can help you. They will impartially assess your situation with a view to deciding whether you qualify and are suitable for an IVA.
An IVA is an agreement between you and your creditors that will reduce your monthly payments to a manageable level for a set period of time. It is usually in place for around five years, after which your remaining debts are wiped out. This will ease your stress and bring you back into the driving seat.