The advantages and disadvantages of the IVA

In a bid to answer the question, what is an iva? there is a need to consider the advantages and disadvantages of the individual voluntary arrangement. To get started with the advantages, you need to know that a debtor becomes completely free at the end of the stated period assigned for the IVA. In most cases, debtors are usually required to pay their debts at a lower cost than they would have incurred in other forms of debt management systems. This gives an individual voluntary arrangement a competitive edge over all kinds of available debt solutions.

Similarly, your knowledge of the iva meaning is not complete until you know the process of applying for the individual voluntary arrangement. The application process for an IVA is quite easy. As a matter of fact, you can apply for an individual voluntary arrangement on your phone without having to pay any upfront cost. Moreover, since nothing good comes easy, you need to be aware of the terms and conditions behind this. You just need to know that the cost will be added to your subsequent arrangement.

What is the meaning of iva?