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,
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