What are the advantages of an IVA?

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The advantages of an IVA are:

  1. An IVA is flexible and will only be based on your situation i.e. what you could pay back each month.
  2. You are less likely to lose your home or your job than if you become bankrupt.
  3. IVA's can sometimes be cheaper than bankruptcy.
  4. If you own your own business you will be able to continue with this.