How Do I Know If IVA is Right for Me?

By: Reiner Jaden


Just because something works for one person does not mean it will for the next. Finding the right debt planning options is an individual thing because everyone has individual financial circumstances. It is something where a debt counsellor has to sit down with you and learn in detail exactly what your financial position is.

Once they determine you debt obligations and your sources of income only then can sound advice be given.There is a criterion that must be met in order to get the most benefit out of Individual Voluntary Agreement. It is not a quick fix. You will soon learn that there is no such thing when it comes to debt management. IVA is geared towards individuals who realize they are in financial trouble but are still capable and have the means of getting it under control.

IVA’s are not “deals” with investors they are negotiated agreements. The IVA is a legal document so that both you as the debtor agree on an affordable payment and those you owe money to being the creditors have agreed to accept.

To begin with, IVA is a good approach if you have debts in excess of £20,000 that are not secured. You would need to be making more than £15,000 yearly. Another criterion is if you are currently paid above £300 on a monthly basis for cards such as credit or store, which are classed as unsecured loans. If you have said yes to these four criteria then chances are you are a good candidate for IVA. On the other hand, if you have answered no to any of them then most likely some of the other available financial solutions may be a better route to go and your debt advisor will suggest this. Get help with your IVA today by visiting www.justdebts.co.uk, and get the advice you need to get you out of Debt and secure your financial freedom.

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To know more about IVA and IVA Information visit www.just-debts.co.uk/ivas.html

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