Tuesday, December 30, 2008

Pay Off Your Debt Quick!
An Individual Voluntary Arrangement (IVA) is a legally binding agreement between you and all the people and organisations you owe money to (your creditors). You can try to arrange an IVA when there is no real prospect of paying off all your debts.

With the help of a licensed insolvency practitioner, you work out what you can realistically afford to pay back over a period of time - often 3-5 years. If three-quarters of your creditors agree, all your debts and the future interest on them will be frozen at the time that the IVA proposal is agreed. Your creditors will usually forego some of the debt you owe and at the end of the agreed period these debts are written off provided you have kept up with the negotiated monthly IVA payments. As long as you are confident you can maintain the regular monthly payment that is agreed an IVA could be the solution for you and you could be debt free in 5 years or less.

Just enter a few details and see an immediate report of the options available to you. You can change the values to amend or review the illustration at any time. Please ensure all the figures you enter are as accurate as possible for the best recommendation. However if you are ready to apply for an IVA now, start the Online IVA Application.

If you want to know more about IVA, you can log in to ClearDebt website and visit to their forum. Therefore, you can have a better idea which dept management plan is right for you. Look up for the right Debt Solutions and let ClearDebt helps you to pay off your debt in shorter time.