IVAs Vs. Bankruptcy - What Should You Choose?

With the release of the direct debt, our job is to evaluate each individual & their relationships to recommend the best solution for debt management for them.

When a person is in debt, they often feel that there is no way to feel the lives of lots of IVAs & debt management designs, & even bankruptcy, but I have no idea which option is best for them.

An IVA or individual voluntary arrangement is advantageous because it is simpler to receive a mortgage in bankruptcy, you can maintain control of their assets & still be a director of a limited liability company. With a VAT, which is simpler to receive a bank account & leave the customer with the VAT debt free after over years, the tax may deduct up to 75% of the tax debt & interest can cease debt .

The main differences between an IVA & bankruptcy is that the assets are managed in a different way, & the house is treated differently, times are different, & employment status must be thought about before choosing each procedure.

With bankruptcy, you will write 100% & will last only a year, but it is a long court proceedings can be difficult to receive a mortgage or a bank account. An IVA can have equity in assets, while bankruptcy won't, which means that your property are safe, an IVA is not suitable for individuals who are unemployed or on benefits, while bankruptcy is applicable to the people of all ages.

When you speak with an advisor news direct debt, they can give you advice & debt help debt on the phone, helping you reduce debt or even eliminate the debt .