What is the impact to an individual of an IVA?

An Individual voluntary arrangement (IVA) is a debt and insolvency solution that involves a reduced payment plan over a longer time (click here for the full definition of an IVA from the Citizens Advice website).

IVA’s can be beneficial in situations where the debt is straining your finances, but it can also have fairly dire consequences on various aspects of your life. This article covers some of the effects of applying for an IVA.

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