An IVA has a major advantage over bankruptcy in that you are more likely to keep your house and any other assets, such as your car or bcars. And once the IVA has ended, the restrictions are a lot less severe than for someone who has to go bankrupt

An IVA is drawn up by a licensed insolvency practitioner. They work with you and your creditors to come to an agreement to pay them a reduced amount instead of the full amount of what you owe. Based on your disposable income each month.

If you have taken debts which you are unable to payoff due to any reason, then debt management program can be a great help to you. Debt management program is nothing but ways through which you can manage your debts and pay them off.

You may want to get hired help from a debt management consultant. They will work with you to come up with a practical strategy. Your consultant can help you negotiate better rate of payments and interest with your creditors.