Writing off your debt with an IVA!

The credit crunch is in full swing and if debt is crushing you and your family you shouldn't stand and take it, speaking to someone for IVA debt help maybe the solution for you to write-off substantial portions of your debt and arrange affordable repayments.

Individual Voluntary Arrangement or IVA are agreements with your creditors to pay back what you can afford over time and to write off what you can't afford to pay back. IVAs are a way of dealing with your debts under UK law without resorting to bankruptcy and there are a lot of companies out there that can help you through the process. This guide gives you an overview of IVAs for your debt and will set you on the way to getting help to go debt-free!

IVA vs. Bankruptcy

Bankruptcy's have a certain stigma that doesn't seem to be as prevalent with IVAs. Choosing an IVA could help you keep your home and could be an all together less harsh option for you. But the fact is individual cases will vary and what is best for you is something to discuss with your IVA debt help company of choice.

A good debt management company will look at your situation and help you decide what you should do. While it's good to consider your options, you should get things sorted before it gets to bad and you lose everything!

IVA Debt Help Companies

Debt companies can offer IVA debt help, there will be a fee but this should be offset by the amount a good company will get written off for you. You should research into others experiences with any company you are thinking of using, if you are going to be handing them your cash you will need to know they will do a good job for you.

Like anything else you should consider a number of IVA debt help companies before making your choice. The people doing the IVA will need to be insolvency practitioners they are normally accountants or solicitors and they should take you by the hand step-by-step through the process – after all you are paying them.

Can't afford to pay for IVA debt help?

If you can't afford a company to help with your debt then you can try free help such as your local Citizens Advice Bureau, they may be able to help you out with your debt and get you started in paying it back. Head down there and see what they can do for you to help you sort out your debt problems.

Telling your debt story

If you sign-up here at HubPages you can post your debt story and help others going through similar experiences - giving and getting support. What's more you can even earn some money for doing it! Sign up and give it a go!