What Is IVA Debt?

What is an IVA Debt and how does it actually work?

What is an IVA Debt and how it actually works

You enter into a repayment agreement with your creditors using an IVA which is a legally binding agreement Instead of declaring bankruptcy, your creditors voluntarily agree to your request to pay a much reduced amount than your actual debts Depending upon the case sometimes creditors can write off major part up to 75 % of total debts As IVA is a formal agreement, it is usually set up by an licensed professional

Resources & Calculators

Useful Resources for Financial Management & Forecasting

401k Calculator

Cras ultricies ligula sed magna dictum porta. Nulla porttitor accumsan tincidunt. Pellentesque in ipsum id orci porta dapibus.

Interest Calculator

Cras ultricies ligula sed magna dictum porta. Nulla porttitor accumsan tincidunt. Pellentesque in ipsum id orci porta dapibus.

Retirement Planner

Cras ultricies ligula sed magna dictum porta. Nulla porttitor accumsan tincidunt. Pellentesque in ipsum id orci porta dapibus.

Payment Manager

Cras ultricies ligula sed magna dictum porta. Nulla porttitor accumsan tincidunt. Pellentesque in ipsum id orci porta dapibus.

Pros and Cons of the IVA Debt:

When you are deep into debts, IVA debt management can save your from bankruptcy You also get a chance to save all those assets that are usually involved during bankruptcy filing

Aside from this, the amount of fees that is to be paid with IVA is lot lesser than what you’ve to give while filing for bankruptcy Your creditors are well aware that they will surely get back good amount of their money if they enter into IVA debt management agreement with you rather than following you till bankruptcy when they get almost negligible amount of money

Another good benefit of IVA debt management is that it is done discreetly so your friends or family members will never come to know about your financial condition

Way in which IVA debt management Works:

This agreements works through negotiations, wherein you negotiate with your creditors till you both agree on terms and conditions During negotiations, you will have to show hard facts about your actual financial condition to them You will have to explain as to why you are opting for IVA debt management and your current earnings and expenses

Acting on your information, creditors can come to some agreement about a set amount of payment each month that you can easily pay them from your monthly income

This repayment plan is then converted into a legal document wherein your lawyer would petition in a court to seek an interim order Such an order will keep all those creditors whom you owe money from coming after you
It also depends upon your creditors to choose or reject the IVA In order to get it approved, at least 75 % of them should accept it

IVA debt management program is not just about lower monthly installments You can even ask for deferment or postponement of your debts to some future date Such an option is great if your financial problems are just temporary and you can begin monthly payments again after some time

Resources

Other Tools & Resources

Debt & Credit Cards

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

Retirement

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

Insurance

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

Savings

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

Invetsments

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

Taxes

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

Contact Us

Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae; Donec velit neque, auctor sit amet aliquam vel, ullamcorper sit amet ligula.

info@diviaccountant.com

(235) 462-3512

1234 Divi St. #1000, San Francisco, CA 93215

M-F: 8am-5pm, S-S: Closed