Free Assessment 
What is an IVA?
If you’re struggling with debt, the right IVA advice can give you a fresh start financially.
An IVA (Individual Voluntary Arrangement) is a legal agreement which can help you escape from debt and allow you to repay what you owe within an agreed timescale.
The main benefits of an IVA are:
- You will normally only pay off a percentage of your debts
- Your payments will be of a manageable level and you’ll only pay what you can afford.
- Your debt will be cleared within a fixed time period, usually five years. No more struggling to manage your debt without an end in sight.
- You’ll be protected from your creditors, relieving the stress of being pursued for repayment via letter or phone.
- Prevent any legal actions against you
- Freeze debt interest and charges.
- Cancel out any existing CCJ's.
What is the IVA process?
After a free initial IVA Assessment and with your consent an IVA is applied for on your behalf by a licensed professional known as an Insolvency Practitioner. The application will include details of how much you can afford to repay and over what timescale. For your application to be approved your creditors will be asked to vote on whether they accept the terms of the IVA.
An approved IVA is legally binding. It has been agreed and documented by court and is different from other types of debt management agreements because of this. Your creditors have accepted it and, provided you continue to make the agreed repayments, you will be completely debt free when the term of the IVA is complete (typically 5 years). Once it’s finished you may have only paid back a percentage of what you originally owed, but the rest of your debt will be written off by your creditors.
Do I Qualify for an IVA?
For a free IVA Assessment to find out whether an IVA is suitable for you complete the enquiry form to the right or call us on 0800 680 9026 or 0161 403 0132.
complete the form below:
0800 680 9026
IVA Example
Debt repaid = £14,400 (44%)
Monthly payments = £240
