Want to get Out of debt ?

Individual Voluntary Arrangements are the perfect solution for people with a lot of creditors. There's the potential to write off up to 75% of your debts!.

We've helped over 2,000,000 people with their finances!

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How can a IVA help you?

An IVA could write of up to 90% of your debt!

  • Have one affordable monthly payment
  • Clear your debts without a loan
  • Reduce demands from your creditors

How can an IVA help me?

An Individual Voluntary Arrangement is a formal and legally binding agreement between you and your creditors. It provides both parties with certain legal protections whilst you solve your debt problems.

Once the agreement is in place your creditors must stop all further interest and charges on your debts. All letters and phone calls from your creditors in relation to your debts should then cease. Once the 60 months have ended, and you have kept to the arrangement any outstanding debt included in the IVA is written off.

Whats the minimum criteria
for an IVA?

You must be indebted to at least two creditors

The debt must be to the value of at least £5000

You must be able to show that you're struggling with payments

UK citizen (IVAs are specific for England and Wales)

FAQ
  • Will the IVA prevent my creditor from taking any further action?

    You should still be able to apply for a Debt Management Plan if you have a bad credit rating, so long as you still have the appropriate level of income. Your Debt Management Plan will however most likely show up in your credit history for a minimum period of six years and be seen as a negative point by any potential future creditors, making it more difficult for you to get a loan or credit card in the future.

  • Can i enter an IVA if i have CCJs against me?

    You should still be able to apply for a Debt Management Plan if you have a bad credit rating, so long as you still have the appropriate level of income. Your Debt Management Plan will however most likely show up in your credit history for a minimum period of six years and be seen as a negative point by any potential future creditors, making it more difficult for you to get a loan or credit card in the future.

  • Will i be credit checked before acceptance?

    You should still be able to apply for a Debt Management Plan if you have a bad credit rating, so long as you still have the appropriate level of income. Your Debt Management Plan will however most likely show up in your credit history for a minimum period of six years and be seen as a negative point by any potential future creditors, making it more difficult for you to get a loan or credit card in the future.

  • Do i have to be in full time employment?

    You should still be able to apply for a Debt Management Plan if you have a bad credit rating, so long as you still have the appropriate level of income. Your Debt Management Plan will however most likely show up in your credit history for a minimum period of six years and be seen as a negative point by any potential future creditors, making it more difficult for you to get a loan or credit card in the future.

  • Does it make a difference if i am a homeowner or tenant?

    You should still be able to apply for a Debt Management Plan if you have a bad credit rating, so long as you still have the appropriate level of income. Your Debt Management Plan will however most likely show up in your credit history for a minimum period of six years and be seen as a negative point by any potential future creditors, making it more difficult for you to get a loan or credit card in the future.

  • Can i cancel the IVA once its set up?

    You should still be able to apply for a Debt Management Plan if you have a bad credit rating, so long as you still have the appropriate level of income. Your Debt Management Plan will however most likely show up in your credit history for a minimum period of six years and be seen as a negative point by any potential future creditors, making it more difficult for you to get a loan or credit card in the future.

  • How long does it take to set up an IVA?

    You should still be able to apply for a Debt Management Plan if you have a bad credit rating, so long as you still have the appropriate level of income. Your Debt Management Plan will however most likely show up in your credit history for a minimum period of six years and be seen as a negative point by any potential future creditors, making it more difficult for you to get a loan or credit card in the future.

  • How long does an IVA last?

    You should still be able to apply for a Debt Management Plan if you have a bad credit rating, so long as you still have the appropriate level of income. Your Debt Management Plan will however most likely show up in your credit history for a minimum period of six years and be seen as a negative point by any potential future creditors, making it more difficult for you to get a loan or credit card in the future.

Debt Guides

Debt is a problem that most of us will find ourselves facing at least once in our lives.

But don't worry, with our comprehensive section of guides on debt solutions, you'll be able to find all of the information you need to get debt free right away

Bankruptcy

Bankruptcy Alternatives

Debt management Plans

The cost of DMPs

IVA's and Insolvency practitioners