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What Are Individual Voluntary Arrangements?

April 26, 2017arrangements individual Voluntary

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What Are Individual Voluntary Arrangements?

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This is a legal process where your creditors agree to accept your disposable income over a period of up to 60 months, after which time the remainder of your debt is legally written off and you become debt free. Once your proposed IVA has been agreed, your creditors cannot re-negotiate the terms of your arrangement, and all interest and charges on your debts are stopped.