What Is An IVA

An IVA is an Individual Voluntary Arrangement which is legally binding and can be used as a debt solution if you’re in serious debt. Call us FREE
for expert, honest and impartial advice on whether an IVA is the right solution for your debts.

With an IVA you agree to clear your debts over a period of time (usually sixty months) by only paying off what you can afford. Of course your creditors first have to agree with your provider to write off the rest of your debts. They will do this as long as they agree with the proposal your provider helps you prepare.

When you should consider an IVA

If you’re in serious debt, struggling with repayments and owe more than £15,000, an Individual Voluntary Arrangement can be an effective way of working towards clearing your debts and being able to start afresh. It also avoids all the trauma and embarrassment of bankruptcy.
But ask us first for free debt advice on whether it’s the best debt solution for you.

How an IVA works

If you do enter an Individual Voluntary Arrangement it will be with an IVA provider who will discuss with you how much you think you can afford in monthly repayments, given your financial situation. The provider will then negotiate with your creditors to get them to write off part of your debts so that the remaining amounts can be paid off at the rate of the monthly repayments you can afford.

If you are worried about your debts to find out how best
we can help you contact one of our advisors on 0808 222 1020
or fill in the form opposite.