Individual Voluntary Arrangement (IVA)

A formal debt solution to help you become debt-free

Start Your IVA Journey

What is an IVA?

An Individual Voluntary Arrangement (IVA) is a legally binding agreement between you and your creditors. It's designed to help you repay your debts at an affordable rate, typically lasting 5-6 years. At the end of your IVA, any remaining debt is written off.

Key Benefits

  • Write off up to 75% of your debts
  • Single affordable monthly payment
  • Legal protection from creditors
  • Keep your home and assets

Suitable For

  • Debts over £5,000
  • Regular income source
  • Multiple types of unsecured debt
  • UK residents

How an IVA Works

1

Initial Consultation

We assess your financial situation and determine if an IVA is right for you.

2

Proposal Development

An Insolvency Practitioner creates a formal proposal based on what you can afford to pay.

3

Creditor Approval

Your creditors vote on the proposal. If 75% agree, the IVA becomes legally binding.

4

Monthly Payments

You make agreed monthly payments for the duration of your IVA (usually 5-6 years).

5

Completion

Once completed, remaining debts are written off and you become debt-free.