Is an IVA for you?

We have a solution for every debt problem.

An IVA or Individual Voluntary Arrangement is a legal contract between you and your creditors, an IVA is a legally binding arrangement supervised by a Licensed Insolvency Practitioner, the purpose of which is to enable you to reach a compromise with your creditors and avoid the consequences of bankruptcy.

Once in an IVA you make one single manageable monthly payment, based on your budget, for 5 years. After that the remaining debt is wiped clean, leaving you completely debt-free. This means that an IVA can write off up to 75% of your debts.

An IVA is available to all individuals, Sole Traders and Partners who are experiencing creditor pressure and it is used particularly by those who own their own property and wish to avoid the possibility of losing it in the event they were made bankrupt.

Find out if an IVA is right for you

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* The amount you have left after essential bills

 
Benefits of an IVA (Individual Voluntary Arrangement)
Write off up to 80% of debts Debt free in 60 months
Freezing of interest and charges A dedicated point of contact
One affordable monthly payment Expert impartial advice
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IVA Pros


1.An IVA is an agreement with your creditors to make a single reduced payment each month.
2. IVAs last for a sensible period of time (normally 5 years).
3. Once agreed, creditors are not allowed to add further interest or charges to your accounts by law.
4. The IVA agreement is fixed, meaning that creditors cannot randomly demand changes to it.
5. A private agreement that cannot be published in the papers.

IVA Cons

1. Possible Release of Home Equity or other assets.
2. IVAs only Available if your debt is over £12,000.
3. No Unsecured Borrowing During the IVA.
4. IVA's damage Credit Ratings.
5. All creditors must be included and you cannot make separate arrangements with each one (which can be done in a Debt Managment Plan).