IVAs are, in the right circumstances, your ticket to becoming completely debt-free after having built up a huge amount of debt. To be precise, an IVA is only generally available to those who have amassed £15,000 or more in debt. By anyone’s standards this is a huge quantity of cash owed to creditors.
Student loans can take a long time to pay off. Many students have complained about being in debt, lots of debt! Some as much as £17,500. Many have seen the adverts about getting an IVA and understandably they want to know more!
For people who have for one reason or another accrued a lot of interest on loans they’ve taken out, resulting in hugely inflated quantities of money they owe to their creditors, an IVA could be just what they are looking for.
What you need to know
What goes on?
Advice on remaining debt free
