What happens to the interest on my debts?

One of the key advantages of an IVA is that it binds your creditors, legally, to freeze all future interest on your debt. This means your debt level will freeze upon approval of your IVA.

The only exception to this rule would be if you are unable to make or keep up with your monthly payments. However, should this happen through no fault of your own, we are often able to agree a variation with your creditors.

 

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