- Friday, 15 May 2009The
IVA process can be much faster than many alternative ways to resolve debt, according to Vote Red White or Blue.
An article in the information resource explains that there are a number of benefits to
IVA solutions - including the speed with which individuals can return to a positive financial footing.
While information about the
IVA process may stay on a person's credit record for six years, Vote Red White or Blue notes that the arrangement itself typically lasts for five.
As a result, there is a year during which lenders may be willing to provide new credit to the individual - although the article concedes that they may be hesitant until the credit record is fully clear.
However, "most significantly", homeowners are told by the resource that they should be able to retain ownership of their property.
Money Debt & Credit adds that, even if the house is required to be sold, it can be possible to delay the sale until the final year of the IVA.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
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