An IVA is a legally binding agreement between you and your creditors. By accepting the IVA, they’re agreeing to accept lower payments, not to pursue any legal action against you (including trying to make you bankrupt), and to write off any outstanding debt at the end of the IVA. You agree to pay as much as you can afford for the time agreed. You could be debt free in as little as 60 months.
What Is An IVA?
Using legislation that is designed to help you clear debt, an IVA is a formal agreement between you and your creditors. The IVA stops all creditor demands for those creditors that are bound by the arrangement
Protected Trust Deed (Scotland only)
Using legislation, designed to help Scottish residents clear debt, a Protected Trust Deed (PTD) acts as formal agreement between you and your creditors. The PTD stops all creditor demands for those creditors that are bound by the arrangement. This enables you to pay off your debts in affordable monthly payments over a fixed period (usually 48 months).
What Is A Scottish Trust Deed?
A Protected Trust Deed is a legally binding repayment agreement between a debtor and their creditors. It allows the debtor to repay a portion of their debt at a rate they can afford....
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