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How Does an IVA Work?

You might have heard about IVAs, but have you ever wondered how they actually work? What do you need to know before applying for one? You can take temporary payment breaks and have missed months added to the end of your IVA. An IVA is an affordable option that requires no upfront costs and only …

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Is an IVA Right For You?

Are you wondering if an IVA is right for you? An IVA is a formal debt solution that requires a statutory agreement between you and your creditors. Because your creditors must agree to it, your credit rating is affected, so only large debts are appropriate for an IVA. However, if you’re in dire need of …

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What Are Trust Deeds?

What Are Trust Deeds? The pros and cons of Trust Deeds are clear, but there are some downsides. During the transaction, homeowners must give up 100 percent of the equity in their home, which increases the debt payment. The property is appraised at the start of the transaction. However, payment arrangements for the equity can …

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How Does an IVA Work?

A good question is: How Does an IVA work? Essentially, it is an agreement between you and your creditors about a set budget of living expenses. In addition to your monthly income, you must also declare all expenses that you normally spend each month. If your creditors do not agree to this plan, you may …

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