There are basically two forms of debt settlement programs:
• those that can be considered as an informal arrangement between you
and your creditors - usual administered by a third party debt Management Company
• and the more rigid and formal arrangement know as an IVA (Individual Voluntary Arrangement).
So which debt settlement is right for you?
Well! Because both programs have their pro's and con's. What program will be suited for you will depend on your particular circumstances?
However, as a rule and because of the rigidity of an IVA your first option should always be: to check out the viability and suitability of entering into the less formal and more flexible arrangement of a standard debt management plan. There is no harm in looking.
