In 2021 Alone, over 80,000 people signed up to an IVA to resolve their debt burden
Find out if an IVA is right for you
Am I Eligible For An IVA?
In 2021 alone, over 80,000* people signed up to an IVA to resolve their debt burdens
What Can An IVA Do For Me?
A single, lower payment
Repayments based on what you can afford – not what you owe.
Some debt written off
Proportion debt is written off when an IVA completes.
Interest stopped
No more interest or charges added.
Protection from creditors
No more creditor letters, calls or legal action.
What Is An IVA?
An IVA is a debt solution to help people with little prospect of repaying their debts in full, but able to commit to regular payments to repay them in part, (normally over 60 months) in exchange for the rest being written off.
If you owe at least £5,000, are struggling with payments but can commit to at least £90 per month, you may qualify for an IVA.
What Can An IVA Do For Me?
We’ll review your financial situation to determine your level of debt what you can afford to repay each month. If an IVA is suitable, we can make a formal proposal to your creditors.
If this is accepted, no more interest or charges can be added to your debts.
Provided you maintain payments, all unpaid debt is written off at the end of the IVA, which normally lasts 60 months.
Debts We Can Help With
Most debts can be included in an IVA
Credit Cards
Unsecured Personal Loans
Payday and Doorstep Loans
Overdrafts
CCJ Debts
Catalogue Debts
Council Tax Arrears
Gas, electric & water arrears
Considerations of an IVA?
- If there’s equity in your home, you’ll need to try to re-mortgage which may result in a higher interest rate
- If you're unable to re-mortgage you can make a maximum of 12 extra payments or a third party can offer a sum equivalent to the equity
- If your IVA fails, creditors may request the supervisor of your IVA petitions for your bankruptcy
- Your credit rating will be negatively affected
- Your creditors may not agree to your IVA
- At the end of your IVA, only unsecured debts included in the arrangement will be written off. Any not included will remain outstanding
- Your IVA will be recorded on a public register
- Once your IVA is set up your spending will be restricted until the IVA comes to an end