If you are a student, an IVA is possibly the best way out of a mountain of debt that you cannot repay. If you have just graduated, you may well be at the start of your working career – and already be saddled with huge debts that you cannot afford to pay back, especially on a starting salary.

If this is the case, you need to start seriously considering your options. If you’re a reader of this blog, you may already know about some of the legitimate routes out of your serious financial trouble – an IVA, bankruptcy or another debt solution?

There is one really important factor in this choice. If you have a student loan and are declared bankrupt, your student loan must still be repaid. Student loans are not covered by bankruptcy laws. This piece of legislation has been in place since 2004. It’s certainly something to consider when deciding between IVA vs bankruptcy.