What Effect Does an IVA Have?
While you may be in need of some debt relief or assistance, these plans can have an impact on you and your future. Just what are the potential impacts?
Under an IVA, potential assets may be at risk. Accounts such as savings could be tapped. It is unlikely that your home would be impacted however.
Your credit worthines will be negatively impacted by entering into one of these plans. Therefore, borrowing money during the plan will be far more difficult.
Additionally, there is the cost and expenses to setup and administer the plan must also be factored into your decision making process.
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