"What's an IVA exactly?" "What can it do for me and my financial problems?", "How much time and money will this cost me?" These are the sort of questions that are addressed and discussed by hundreds of troubled debtors such as yourself.
"What is an IVA and what can it do for me?" What you need to know for now is that IVA is a viable UK alternative to bankruptcy that could be the solution for all of your financial troubles, no matter how bad you may think they are right now.
For some people, it has provided the glimmer of hope they needed to get back on the right road of financial recovery.
And each of these people that ended up completely debt free undoubtedly started out by asking themselves "what is an IVA?" and not knowing anything about Individual Voluntary Arrangements, just like yourself.
"What is an IVA and what can I expect from it?" Individual Voluntary Arrangements are formal and legally binding financial option of reaching an agreement with all of your creditors for a reduced amount of debt.
If you are successful, you can reduce the total amount of debt owned by as much as 75%, but you will be required to pay as much as your finances can support over a period of 60 months, at the end of which you will be declared completely debt free.
However, this particular debt managing method can prove itself to be quite complex and disheartening to all but the most experienced of finance professionals.
It takes a special kind of specialist to analyse personal finance in one glimpse and successfully discover ways of negotiate terms with unsympathetic creditors.
If you're interested in finding out more about what an IVA is and it can do for you or if you're looking for more information in general, try to spend some time researching options for yourself on the Internet.
A good place to start would be this IVA website.