IVA Bankruptcy

If you are struggling with your debt repayments then you may be looking at the debt solutions available and thinking, “should I get an IVA or declare bankruptcy?”

It is a good question to ask. Both Individual Voluntary Arrangements and Bankruptcy comes with their own pros and cons and the right debt solution for you is dependant on both your personal and financial set of circumstances.

It is always best to seek expert advice and research the differences between the two options. If you are a homeowner and qualify for an IVA then your best option is usually with an Individual Voluntary Arrangement. Bankruptcy means that you will have to sell your home to repay creditors whereas you could excuse your home from your IVA proposal or offer to release some of the equity to repay creditors.

Sometimes the best way to see which is better, either IVA or bankruptcy, you need to seek professional advice. Individual Voluntary Arrangement.co.uk will take a detailed look at your financial situation. Once we are armed with this information we will be in a better position to tell if an IVA or bankruptcy is your best option.

Call today on 0800 048 1766 or take the IVA/Bankruptcy Test which will see which debt solution you could be most suited to.