Full & Final IVA (Single Payment IVA)

Full and Final IVA is a combination of a Full and Final Negotiated settlement and an IVA.

Unlike a normal IVA which can last up to 72 months a single premium IVA is between 6 and 52 weeks.

Advantages

• The majority of debt can be written off.


• Simple process.


• Has a satisfactory conducted IVA on credit file when completed (loan rates much better than unsatisfactory conducted).


• Descrete solution


• IVA is completed no "year 4 clause"*


• A year 4 clause is where a home owner is forced to remortgage in year 4 of a 5 year IVA. Upto 100% of the equity would be raised in favour of the creditors.

Disadvantages

• Conditions apply if homeowner


• Lump sum is required


• Creditors must agree to proposal