What is an IVA?

An IVA is debt solution allowing for affordable payments and usually some debt forgiveness.

In England and Wales, an Individual Voluntary Arrangement (IVA) is a legally binding agreement with your creditors administered by an Insolvency Practitioner.

In Scotland, the equivalent statutory debt solution is known as a Protected Trust Deed

Save up to 85% of your existing Debt

Repay a portion of your debts to clear them in full.

Example: Existing amalgamated debt of £18,500.00 can be reduced to as little as £6,600.00

One Monthly/Weekly affordable Payment

Your Insolvency Practitioner will agree an affordable payment that you make monthly
or weekly

All Interest and Charges Frozen

No further interest or extortionate fees added

Full Legal Protection

No further Bailiff and Creditor Action

An IVA is a contractual arrangement with creditors and can be as flexible as an individual's own circumstances; they can therefore be based on capital, income, third party payments or a combination of these.

Am I eligable for an IVA?


Debts that can be included in an IVA

Most debts can be included and repayments reduced. Unsecured debts only. Certain debts cannot be included in an IVA such as; criminal court fines; debts obtained by fraud; child support arrears and most student loans.

Catalogues

Council Tax Arrears

Rent Arrears

Loans and Overdrafts

Rent Arrears

Court Judgements

Gas and Electricity Arrears

HMRC

Overpayments of benefits

Store and Credit Cards

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