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‘Debt management’ is a term which denotes managing dues. One can say that a debt management..

Debt
Solution

There are various debt solutions available in the market that helps people in getting out of arrears..

Repayment
Management Plan

Repayment Management Plan can efficiently subsidise your debts and gift you with a new lease of life...

Debt
Consolidation Loans

Currently, if you are in a knotty situation where you are pressurized with your debts..

IVAs

There are some situations, where one can not able to pay back its loan amount and trapped..

Money Saving Tips

The right money saving tips can go a long way in mending your finances and render the perfect solution you seek

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Repayment Management Plan

Debt Management

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Debt Consolidation Loans

IVAs

Trust Deeds

Disadvantage of IVA

Choosing IVA as the penultimate recourse can sometimes prove to be a risky proportion. It is hence, only advisable that the correct course of action be undertaken in order to bring down your debts. The best way to do the same is through a proper analysis of each advantage and disadvantage of IVA with respect to your current financial standing which will determine the action plan for you. Given below are a few disadvantages of an IVA programme which could raise serious doubts in every debtor’s mind.

An IVA is usually suitable only if the debtor has unsecured debts of at least £15,000.
In order to gain approval, creditors representing at least 75% of the value of the total money owed, as well as a simple majority, must agree to the proposed arrangement.
A typical IVA usually lasts for five years and payments are typically higher.
Under an IVA plan, the home and assets of the debtor can still be at risk if the creditors decide not to exclude them.
In case the IVA fails, the debtor can be declared as bankrupt. In this case, the costs of the IVA will be added to the incurred debts.
The insolvency practitioner will closely supervise the debtor and assess his sources of income as well as expenses he engages in.
All IVAs are recorded in a public register and automatically appear on your credit file. This could have an effect on any future applications filed by you for credit.
If you have the qualifying assets and/or available income you can end up paying back everything you owe to your creditors PLUS all the costs related to the setting up and management of the IVA PLUS statutory interest.

So weigh your options and go ahead with the right plan.