Benifits of an IVA

Benefits of an IVA

s t i A f V e I n n e B fA O

IVA Benefits •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 household.

•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 company too.

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 info@bankruptcy-insolvency.co.uk Gable House,239 Regents Park Road London N3 3LF United Kingdom License Number- 592071 Registration number- Z9668806 Phone:0800 074 6918 http://www.bankruptcy-insolvency.co.uk/