Why I Chose An IVA As My Clear Debt Solution
I am often asked would of all the clear debt solutions did I choose an IVA, I mean there seems to be quite a lot of commitment to an IVA, wouldn’t bankruptcy have been easier?
Well in my case there where three highly motivating reasons for attempting to secure myself an iva as my preferred way of clearing my debts
- I wanted to keep my house
- I wanted to continue to run my companies
- I wanted to pay as much back to my creditors as possible
The last one of the three points is where people often raise an eyebrow, however for me the whole experience of getting into debt went against everything I had been brought up to do. So when I found my self in this mess of mounting debt, I personally wanted to pay as much as I could afford back to my creditors while still maintaining the ability to move forward with my life.
Bankruptcy would have been easier for me personally in some ways, and this is why when asked by a friend if an Iva was a good idea for them as a possible clear debt solution, I advised her to really look at every option she had to hand with a professional adviser.
So do I regret my IVA? No it’s been tough, however it’s given me choices and I have learnt a lot about personal responsibility, and how easy it is to get into debt, and not so easy to get out of!