1) Debt free in 5 years - An IVA will last for a fixed period of time which is usually 5 years.

2) No longer receive any creditor telephone calls and payment demands - Your creditors by law are not allowed to demand payments from you.

3) Interest and late payment charges frozen - Your creditors are unable to add additional charges or interest to any of your accounts covered by law under the agreement.

4) Single Monthly payment - your debts under the IVA become consolidated to one monthly payment made to the Insovlency Practioner.

5) Repaired Credit Rating - Your credit rating is frozen during the agreement and allows you to start over again once the IVA is completed.

6) Legally binding fixed agreement - You will always know exactly how long until you become debt free and where you stand.

7) Protection against court action - Your creditors are unable to take legal action against you while you are within an IVA.

8) A private agreement - This is a matter between only you and your creditors. You will avoid any publicity in the local papers. But, your name can be searched in the insolvency register which is available on the internet. See http://www.insolvency.gov.uk/eiir/

9) Professional Status untouched - No matter your profession, you can carry out an IVA with no negative effect on your position.