IVA Information

IVA - Individual Voluntary Arrangement

Debt Solutions

Other Information

An IVA (Individual Voluntary Arrangement) is a government supported way to manage your debts which will help you:

	Ensure that you only have to pay what you can afford each month
	Not to have to speak to your creditors ever again
	Become totally debt free in 60 months

An Individual Voluntary Arrangement (IVA) is a legal process for people who have unsecured debts of £15,000.00 or over. It allows a formal proposal to be made on your behalf to your creditors, to settle your debt within a reasonable and fixed period of time (normally 5 years). Once the proposal has been accepted no further interest or charges are added to the debt and creditors will be prohibited from demanding additional payments.
                            
An IVA

• Reduces debt by up to 75%.  You only pay what you can afford after paying out your essential monthly bills.
• Reduces repayment time.  In 60 months you will be debt free, and the remainder of your debt will be written off.
• Stops charges and interest.  The amount you owe will be reduced by each monthly installment made.
• Stops creditor calls and letters.  Creditors are not permitted to contact you once you have started an IVA.
• Stops court action.  An IVA can halt bankruptcy proceedings and bailiff visits.

More Details >

Our Debt Advisors have many years experience of helping people from all walks of life, whatever their financial situation might be. The IVA Help Centre will assess your financial situation and reach an affordable monthly payment that will be acceptable to your creditors.

Once we have received the authority from yourself, we will then contact your creditors and ask them to freeze all interest and charges on your debts. We will then start putting all of the necessary arrangements in place to give you one affordable monthly payment and a solution that will mean you are completely debt free in 5 years.

Whatever your circumstances, The IVA Help Centre will give you free, impartial advice on your debt situation and how to start an IVA. You can fill in the form on the right to arrange a call back, or

More Details >