WE CAN MAKE THINGS BETTER

Individual Voluntary Arrangement

Individual Voluntary Arrangement (IVA) is a voluntary arrangement between you and your creditors. You will agree on an affordable monthly contribution to repay part or all of your debt, usually over a period of 60 months.

Available in England, Wales or Northern Ireland

You may be able to write off unaffordable debt
Repay the rest with a simple monthly payment plan
No more nuisance calls or letters – payment demands are stopped
Interest and charges are frozen

ADVANTAGES

Debt free in 5 years
Telephone calls and payment demands stopped
Interest and late payment charges frozen
One single, monthly, affordable payment
Fixed, legally binding agreement
Protection from further court action

CONSIDERATIONS

No unsecured borrowing during the arrangement.
Less costly than bankruptcy
If you fail to maintain payments to your IVA , your creditors can add new interest and can pursue your bankruptcy
Your credit rating is affected