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Individual Voluntary Arrangements

You could be debt free in just 5 years

An Individual Voluntary Arrangement (IVA) offers one affordable payment per month and usually lasts for 5 years.


Up to 80% of your debt written off

At the end of this period up to 80% of your debt is written off. 


Protected from legal action

An IVA is a formal agreement that you and your creditors enter into which offers protection from legal action.

IVA Benefits

  • Make one affordable monthly payment rather than several payments to your creditors.

  • An IVA offers a set time frame to clear your debts, usually five years. After this period the remaining debt is written off.

  • Interest and charges are frozen as long as the IVA is adhered to.

  • You will have one point of contact. We will deal with any queries on your behalf, your creditors will not contact you.

  • You are protected from any legal action. If you are a homeowner, your home is protected under the IVA.

  • All fees payable under the IVA are taken from your monthly contributions.

IVA Considerations

  • You will enter into a contract for the full term of the IVA and your details will be added to the insolvency register.

  • Failure to complete the IVA could result in Bankruptcy.

  • You will not be able to acquire credit of more than £500 during the IVA.

  • Homeowners may have to release equity from their home.

  • Your credit history will be affected for 6 years.


About IVAs

If you have large unsecured debts, an IVA can provide an opportunity to clear your debt in a reasonable time frame. It allows you to make an affordable regular payment for a fixed period of time (usually 5 years), after which the remainder of your debt is written off.


This payment is a reflection of what you can afford and is calculated by ensuring you have enough money available to meet your priority expenditure.

If the IVA is agreed, your creditors cannot apply any charges to your accounts or make any attempt to contact you. You are completely protected during the entire process.


An IVA is a legally binding agreement between you and your creditors. An Insolvency Practitioner is assigned to undertake all of the work on your behalf*.

*Our IVA partner will charge for the work carried out if your IVA is accepted but the fees are included in your monthly payment.

Interested in an IVA?

Contact us to arrange your confidential, no-obligation Debt Advice Consultation with a friendly and professional adviser. 

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