• Individual Voluntary Arrangements (IVAs)

  • Dec 1 2024
  • Length: 16 mins
  • Podcast

Individual Voluntary Arrangements (IVAs)

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  • Summary

  • This episode explains Individual Voluntary Arrangements (IVAs), a UK debt management solution. IVAs are legally binding agreements where individuals repay debts over 5-6 years, avoiding bankruptcy. An insolvency practitioner facilitates the process, creating a manageable repayment plan approved by creditors. Benefits include affordable repayments, legal protection, and potential debt write-off, but drawbacks are a damaged credit score and public record. The text also includes contact information and other services offered by Corporate Debt Recovery Limited.
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