Factors Affecting IVA Success

When you are applying for an iva to assist you with insolvency, there are a number of factors that are taken into account that affect the result. Things like the amount of debt that you owe to that particular lender are taken into account plus any other types of debt that you have such as credit cards or personal loans. They also take your amount of income into consideration plus the number of dependants that you have to support from this income. There is usually a combination of factors that are included in their calculations but on the odd occasion they may look at only a small part of the picture. It is up to them to consider your proposal and make a decision as to how much they think that you can afford. With the help of a third party, they may be able to negotiate a smaller amount.