What is an IVA?

An Individual Voluntary Arrangement (IVA) is a formal debt solution meaning you can consolidate all of your debts and pay one low affordable monthly payment to an Insolvency Practitioner (IP). Your Insolvency Practitioner will distribute this contribution according to the amounts agreed by the creditors that you owe money to. Your IVA debt will be reduced as you make payments into your plan. You make your payment every month for 60 months (5 years) and at the end of the term all of your debt balances are written off completely.

Whilst you are in your IVA, your creditors will not be allowed to contact you or take any further action against you. If you are looking for financial advice which will stop bankruptcy and help you on the road to financial recovery, then look no further than an IVA.

Could I apply for an IVA?

You could be accepted for an Individual Voluntary Arrangement if you answer yes to these questions:

  • Do you have £5000 or more in debt?
  • Do you have 2 or more creditors?
  • Do you have a regular income?
  • Are willing to pay £70 or more towards your unsecured debts

Don’t feel alone in debt

270
people a day are declared insolvent or bankrupt.
(Source: themoneycharity.org.uk)
£29,036
Average debt of each adult in the UK
(Source: themoneycharity.org.uk)
1,854
Insolvency Cases handled by us in 2017

If you have less than £5000 worth of debt, visit Money Advice Service, an independent service set up to help people manage their money.

Examples of IVA’s

Here is an example of how an Individual Voluntary Arrangement could make your debts affordable.

Example Unsecured Debts

Personal loan£8,000
Credit card£6,812
Council Tax£4,092
HMRC Debts£5,399
Overpayments£5,200
Overdraft£700
Total Owed£30,204

Your Monthly Repayments Would Be

Before
an IVA

£748
(total contractual repayments)
After
an IVA

£295
(total contractual repayments)

Reduced by
60%

IVA’s – The Route To Complete Debt Freedom

Think it’s impossible to:

  • Stop creditors calling?
  • Keep your home and possessions?
  • Be debt-free?

Think again.

An Individual Voluntary Arrangement could give you your life back and pave the way to a happier debt-free future for you and your family. Your IVA will allow you to get your life back on track through sensible financial management. You will be able to not worry about your creditors heavy handed approach towards debtors.

“The real low point before my IVA was having my card declined at the supermarket.
I had the kids with me and a full trolley of shopping all packed up in bags. I ran out of there dragging the kids behind me and I’ve never gone back.”

Mrs Karen Collete, awarded an Individual Voluntary Arrangement in 2011.

Just think, no more:

  • Nasty phone calls from creditors
  • Borrowing money from friends and family
  • Scrimping on cheap foods at the supermarket
  • Payday loans you have to keep rolling over
  • Dreading bills because you know you can’t pay
  • Running out of money within days of being paid
  • Having your cards declined at the till
  • Paying hefty charges for being a few pence overdrawn.
  • Pretending everything is ok when it’s not!

Could I Apply For An IVA
Online Today?

Absolutely, and getting the ball rolling is easy. All you have to do is fill out the form above to apply for an IVA. Our experienced and friendly IVA Advisers will go through all of your options and tell you straight away whether an Individual Voluntary Arrangement might be the right step.

Totally Debt Free
In 5 Years!

An IVA will last for just 5 years meaning you will be back on your feet with your finances faster.