IVA Advisor

Financial Advice 101: Finding The Best IVA Advisor For You

Individual Voluntary Arrangement or IVA is a formal binding agreement between borrowers and lenders to make repayments over duration of time. This sort of arrangement usually runs for five years and can just be set up by a licensed professional like an Insolvency Practitioner. Through IVA, individuals can now pay off all their debts in by making a reasonable monthly payment.

But before you get too excited about acquiring such debt solution, it is highly recommended to first seek the assistance of a qualified advisor. This way, you will know every essential detail regarding IVA and if it is really the appropriate debt solution for you. Therefore, in order to find the perfect advisor to work with, here are a few things that you have to take into account.

1. They have extensive knowledge

When searching for an advisor, you should guarantee that they are highly experienced in all aspects of IVA. First off, they have to inform you if you are eligible to obtain the agreement or not. In addition, they have to check with you the debts that can and can’t go into the arrangement.

Remember that a trusted advisor must provide you with the specific information about the debt solution you’re getting. Such details may correspond with your household earnings and expenses, overall debt, or appraisals of any assets.

Furthermore, a good advisor is aware of every effect that comes with the debt solution and can clearly discuss them with you.

2. They are aware of your particular needs

Another quality of good advisors is that they can fully understand the particular needs of their clients. Don’t forget that it's not enough that the advisor is proficient about the facets of an IVA. It is also necessary that they take some time in examining your specific situation financially.

3. They have a comprehensive website

This may not come into your mind when searching for advisors but having a website is actually a great thing to look at. Professionals with extensive websites will be really helpful for you in finding out what they know or the things they can perform.

These are only a number of things that you should take into consideration when looking for a dependable IVA advisor. By keeping all of these in mind, you are assured of finding the most reputable professional who can assist you in getting the right debt solution that meets your financial situation.