IVAs and Your Credit history
On the downside, IVA's usually mean you will pay more of your debts than you would in bankruptcy (even if not 100%), the IVA will be recorded on your credit file, you will be restricted from taking out new credit during the period of the IVA,

Credit file: IVA
Administering an IVA is quite expensive (more than an administration order for example), and the IVA must be adhered to otherwise your creditors can still make you bankrupt. If you can come to an informal agreement with each of your creditors then it would be wise to do this prior to considering either an IVA, a bankruptcy or an Administration Order."The Complete UK Credit Repair Guide" is the original and most successful UK Credit Repair Guide ever published!

For details about the guide please click here