IVA's
An Individual Voluntary Arrangement is an agreement
between you and your creditors. This usually involves making
one monthly payment out of your income for a specific period
of time. Clearly this can have a very significant effect on
your ability to raise finance via the high street mortgage
lenders.
Often people confuse a debt management programme
with an IVA. A debt management programme involves a specialist
company liaising with your creditors on your behalf, whereas
an IVA involves obtaining court protection.
Debt management programmes do not always have
an adverse effect on your credit profile.
We have established which lenders in the market
are sympathetic to people who have IVA's.
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