What is an IVA?

An Individual Voluntary Arrangement (IVA) could provide one way to get back on track. IVA's are a binding agreement between you and your creditors (credit cards, loans, store cards, overdrafts, catalogues, old bills etc..). You make one affordable monthly payment for a fixed period of time. At the end of that time, usually after five years, any unaffordable debt is wiped off.

Once you’ve taken out an IVA, your creditors can no longer chase you for your debts, which means all letters and phone calls will stop once the IVA is approved.

Do I Qualify?

To be eligible for an IVA, you must live in England, Wales or Northern Ireland and have unsecured debts of typically £6,000 or more.


We Can Help with These Types of Creditors


Main Benefits of an IVA are:

  • Wipe OFF up to 85% of your debt

  • Debt free in typically 60 months

  • One affordable monthly payment covering all debts

  • Keep your home & car

  • Stop & reduce creditors and collection agency calls

  • Freeze interest & charges on your debts

How it Works


Fill in the quick form

Firstly we need to check if you qualify to Write Off debt with an IVA.

Get expert advice

Our friendly expert advisors will discuss your all of your options with you.

Comfortably repay debts

Only pay what you can afford in the time frame. Any unpaid debt will be Wiped OFF (IVA).

Advantages of an IVA

  • Stop phone calls and letters - Your creditors can no longer take any further legal action against you; they also cannot contact you either by post or phone.
  • A debt free timeframe - Most IVAs have a time frame of 5 years (60 months), however this may be extended by 12 months if you have equity in your property which you cannot release for the benefit of creditors.
  • Keep your home - In an IVA you would not be forced to sell your home but you would be expected to attempt to re-mortgage your property 6 months before the IVA ends.
  • One affordable payment - You will make an affordable monthly payment that takes into account all essential payments in your budget.
  • Some disadvantages of IVA's - they can be strict and you must stick to a budget for 5 years. IVA's could affect your job so you would need to check the terms and conditions of your employment and your credit score would be affected for 6 years.

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