FAQ

What is an IVA company?

An IVA (Individual Voluntary Arrangement) company is a business that specializes in providing debt management solutions to individuals who are struggling with unmanageable debt. They work with clients to create a payment plan that is affordable and sustainable, and negotiate with creditors on their behalf to reduce or eliminate interest charges and fees.

How do I know if I need an IVA company?

If you are struggling to keep up with your debt payments and feel like you are in over your head, an IVA company may be able to help. They can assess your financial situation and help you determine if an IVA is the right solution for your specific needs and circumstances.

How does an IVA work?

An IVA is a legally binding agreement between you and your creditors that allows you to repay your debts over a set period of time, typically 5-6 years. The IVA company will work with you to create a payment plan that is affordable and sustainable, and will negotiate with your creditors on your behalf to reduce or eliminate interest charges and fees.

How much does it cost to work with an IVA company?

The cost of working with an IVA company can vary depending on factors such as the complexity of your case and the level of service provided. However, in general, IVA companies charge a fee for their services, which is typically deducted from your monthly payment.

Are all IVA companies the same?

No, not all IVA companies are the same. It is important to do your research and choose a reputable, licensed IVA company that has a track record of success in helping clients manage their debt. Look for a company that is transparent about their fees and services, and has positive reviews and testimonials from satisfied clients.