No individual would ever like to experience the situation of bankruptcy. However, not everyone is very lucky and some of them have to go through this trauma. Infact, there are certain bankruptcy cases where in people have to actually sell off each and every piece of property that they have got including their home, cars and even furniture at times.

The concept of Individual Voluntary Agreement has been a blessing for many in such situations. One of the most important reasons why we recommend you to opt for IVA is because you won’t be required to sell your house under this commitment in most of the cases, if not all.

However, you would have to make sure that you keep giving the amount decided under the IVA to the people whom you owe money for a period of sixty months without skipping any month.

The fact that you don’t have to give away your house is one of the main factors why so many people are opting for Individual Voluntary Agreement as compared to some of the other options including Debt Management Plan etc. So go for IVA and keep your lovely home to yourself.