IVA or Individual Voluntary Arrangement as it is called is an arrangement between you and the creditors to pay off the money, which you owe within the amicable conditions agreed upon by both the borrower and the creditor. Getting an advice on IVA is very crucial as this advice can stabilize or ruin your credit position. Read on to know more how to get this advice and get the best of it.IVA advice is something which every borrower needs it at the time when he/she is almost bankrupt and not in a position to repay the loans. In this process a Insolvency Practitioner, is hired by the court and he decides the terms and conditions of the loan repayment which is spread across a maximum of 5 years. This means that you will be debt free in a term of five years. Lets get to know what are the benefits of the IVA advice. The process works something like this, The Individual Voluntary Arrangement also called, as IVA is a legal contract between the borrower and creditors wherein the creditor decides that he will pay off a percentage of what the borrower owe. The payments will be made only for 5 years, after this any loan amount due will be wiped off automatically, so technically you will be debt free after 5 years. During the five years your financial position will be reviewed regularly. The catch here is that the IVA will be accepted only if 75% of your creditors accept the proposal.In this world of Internet, you can search for any of the online IVA advisor and opt for the best options to pay off your debts. But words of caution while you look for the IVA advisors. Make sure that you are dealing with the experienced lot. Double check the licenses of the IVA advisors. Also check if you can get the advice free of charge as there is a provision for the same.