Individual Voluntary Arrangement (IVA) – How it works
You may write up to 60% of your debt off upon completion
IVA Benefits Include
- Reduced monthly repayment – one single affordable monthly payment, pay what you can afford
- Reduced charges – interest rates and charges will be frozen
- Negotiate with your creditors on your behalf – all letters, phone calls and negotiations handled so you no longer have to deal with the stress
Also...
- Usually debt free in 5 years
- No further action taken by creditors or courts
- Employment unaffected
- Not public knowledge – private arrangement between you and your creditors
Your IVA Queries Answered
Is this a loan?
The advisors will consolidate your debt to one affordable repayment without the need to take out further credit
How much will this cost me?
Based on your individual circumstances and the advisor you choose this can vary but on average an IVA plan can cost as little as £200 per month
How long will the plan last?
Most IVAs last around 5 years.This depends entirely on how much you owe and can afford to pay on a monthly basis. Tailored to your own needs
Will my creditors accept?
Our advisors have helped negotiate 1000’s of IVAs so more than likely have dealt with your creditors previously and know the preferred route to take, so your debt problems can usally be solved very quickly
