Are you a candidate for IVA
An IVA (individual voluntary arrangement) is a solution of the debt for human beings, a serious fault. It is a less burdensome option than bankruptcy, as they can, as a general rule, your home and car, and it has less social stigma. An IVA establishment of an insolvency administrator, and he agreed to pay an amount per month for 5 years. Interest on debt is frozen and that the defendant believed that the agreement, the debts are erased after 5 years. 75% of creditors must approve before IVA can be established. Payments are based on what the individual or a household can afford, and do not qualify everyone. An IVA can be established, for example, if you have a minimum of £ 15000 - 20000 £ rather than debt. There is no ceiling. To start an IVA, you must prove that you have a stable monthly income. The minimum monthly payment amounts to about £ 250 - £ 300; yet, there is no limit, but you must be able to prove that you can make payments for 5 years.