IVA Forum

Introduction to IVA Forum

An IVA (Individual Voluntary Agreement) is, in the United Kingdom, a legal alternative for people that are in a position of bankruptcy but wish to avoid it. It was established in 1986 as part of the Insolvency Act. Since the rights of secured creditors are pretty much ensured by the existence of the collateral, an IVA legislates the rights of unsecured creditors. It allows the creation of a repayment proposal, adapted to the debtor's needs and current financial position. The main advantage of an IVA as opposed to bankruptcy is the control the debtor retains over his goods – the debtor may not reach a position where he loses his home or other goods, although a mortgage may be necessary.

Information on IVA

A quick internet search will provide you with sufficient information on the steps you need to take and certain theoretical aspects. The best site to help you in that direction will probably be www.IVA.co.uk – it not only has all the legal aspects covered but it also has a 24/7 helpline available for people who feel more comfortable discussing the subject with a live person.

Once you've decided that this is the solution you need to apply, you may want to study all the aspects in order to make sure you are taking all the right steps. The best way to do that is to discuss with people who have already been in this situation – since they are more than likely to know the practical parts and the unsurprising turns that applying for an IVA may lead to. If you don't personally know anyone who has been through the process, the best way to enter into contact with people who have been through it will probably an IVA forum.

IVA Forums

The www.IVA.co.uk website also presents a forum with sufficient categories to cover just about every step in the IVA process – more than likely most of the possible turnabouts have already been discussed, so a short browse through the topics will offer quite a lot of information.

If, however, you feel insecure about the information you have already acquired, other IVA websites include:

• www.IVA-forum.com – On the main page, you have a short presentation on what an IVA is and what its main advantages and disadvantages are. A more detailed presentation can be find on the subpages. The website also sports a helpline.
• http://forum.debtwatchdog.com/ - The Debt Watchdog website also contains a forum in regards to IVA. The topics are not categorised though, so if you're looking for a specific situation you may have a hard time finding the right thread.
• http://www.my-iva-adviser.co.uk – A website dedicated to IVA, offering free guides on the subject, a thorough comparison with other possible solutions and an available helpline.
• http://www.clearstart.co.uk – Presents case studies of people who have gone through the process and also comparisons between IVA and other methods like debt management and solutions.

In the case of forums, you may however want to compare the forum members' experiences with what is written on all of the advice websites. Please note that anyone can sign on to a forum and you have no official way to confirm the truth of their stories.