Mortgage Loan And Iva Remortgages Info!

An IVA is an agreement worked out between a borrower and a creditor, wherein the borrower agrees to pay them back as much as you could within a period of not more than 5 years (60 months). There are some advantages of an Individual Voluntary Arrangement. To start with, the creditor agrees to wipe off up to 95% of the debt. as they cannot contact the borrower by letter or telephone, they cannot take any further action against. The interest would be frozen and no charges would be put against any of the borrower's accounts. IVA remortgages could also prove to be really useful. Some of the debt types that could be dealt with by an IVA are unsecured loans, council tax arrears, Inland Revenue, business rates, personal loans to friends and family.

Moreover, unlike bankruptcy, details of an IVA are not openly published anywhere, it is a confidential arrangement between you and your creditors. Employers and landlords are not informed.

An IVA could assist achieve the following things:

One reduced monthly payment to your creditors

A court order would stop any legal action by your
creditors

Telephone calls and letter from your creditors would stop.

Interest and charges are stopped, so the spiral of debt is halted

Fixed repayment method (normally 5 years) at the end of which all of your debts are discharged (any unpaid balances are written off), giving you 'light at the end of the tunnel'

All unsecured creditors to whom the I.V.A proposal is sent, are bound by the arrangement, even if they do not agree to the proposal, providing that 75% of your remaining creditors in value agree to the proposal.

The I.V.A. is not advertised or notified to your employer.

IVA remortgages and mortgage loan information could assist a borrower make the right decision. One could acquire all the required information on IVA by looking online. The information being available online is freely available to all. If you are a borrower in an IVA (Individual Voluntary Arrangement), and wish to avail an IVA remortgage loan, you could acquire one easily by looking online. This type of loan could assist you clear IVA. Those who have previous IVA's could also benefit from these loans. Those who have cleared IVA's a few years earlier and prefer to remortgage as you come to the end of your current mortgage deal could also benefit from these loans. It is advisable to acquire IVA assist & Advice before availing an IVA remortgage loan. Many of the IVA Remortgage lenders only accept business through registered intermediaries & packagers. An IVA Company could also offer with the required guidance to avail an IVA loan.