IVA Important Facts
Important points to remember:
- An IVA is entered on a public register.
- Whilst on an IVA and for a year after completing it your credit rating will be affected - an IVA may last 5 years but the effect on your credit rating will last 6 years and potentially longer if the term of your IVA is extended.
- If your IVA fails, you may be made bankrupt and you remain liable for the balance of your debt and any Insolvency Practitioner fees and costs already incurred.
- Remember, you are not obliged to enter a debt solution with Atlantic Financial Management and you are able to cancel at any point whilst your IVA Proposal is being prepared without any financial penalty.
