IVA Information

IVA - Individual Voluntary Arrangement

Debt Solutions

Other Information

A Trust Deed is similar to an IVA (Individual Voluntary Arrangement)

• In most cases the term of the Trust Deed is three years.
  
  
• Creditors must stop interest and charges
  Creditors are not allowed to apply interest and charges to your accounts by law.

• Halts Court action
  A Trust Deed stops any court action pending and any visits from Sheriff Officers.

• The Trustee, or Insolvency Practitioner, helps you to prepare the documents needed to start the Trust Deed.

• The Trustee will arrange a meeting with you to go through all of the details and to sign the Trust Deed.

• If two thirds of the creditors agree to the proposals, then the Trust Deed will go ahead.

• So long as you maintain the payments to your Trust Deed, then your debt will be cleared in three years.