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Individual Voluntary Arrangement (IVA) Advice
Be debt free in 60 months with an IVA*
Learn More Find out if you qualifyWhat is an IVA?
Legally binding agreement
An IVA is legally binding on the debtor and the creditor. When an IVA is agreed, if you make all your monthly payments by the end of the term you should be debt free.
Writes off unaffordable debt
An IVA writes of the debt you cannot afford. This can be as much as 70% or even more. However, the % is not important - what is most important is that an IVA is the appropriate solution for you.
Smaller monthly payments
As you only pay what you can afford your monthly payments will be smaller than those currently demanded by your creditors.
Learn More Find out if you qualifyHow does an IVA work?
Firstly, you need to speak to a debt adviser and explain your circumstances. With this information they can then tell you if an IVA might be right for you, and if so, how much your monthly payments will be.
Learn More Find out if you qualifyDo I qualify?
There are 4 criteria which need to be met as minimum requirements for an IVA:
- £5,000 or more in debt
- Have 2 or more creditors
- In employment
- Have a surplus of income of at least £70 before you pay your debts each month
Learn More Find out if you qualify
IVA Pros and Cons
Deciding to apply for an IVA is not a trivial decision to make. We outline the advantages and disadvantages of all debt solutions available. If you have any questions our advisers are always on hand to answer them. You can also read about the advantages and disadvantages of an IVA on the website.
Learn More Find out if you qualifyAre you ready to be debt free?
Call to find out if you qualify
020 3326 9000