If you can no longer control your finances because they are spiralling out of your control then you may have considered the dreaded solution of bankruptcy. Simply saying the word is hard enough without actually filing the papers, but did you know that some people leap into bankruptcy too soon?
The IVA is just above bankruptcy on the debt solution ladder. In fact, it is the last resort before you reach the threshold for bankruptcy. The IVA has a lot of advantages though, including the fact that it actually damages your credit report a lot less than bankruptcy and can wipe your debt off in five years without the stigma! It is definitely worth considering if you ant to regain control of your finances and your life.
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