Write off up to 80%* of your debt
Freeze all your interest and charges
Stop creditors contact and harrasment
You can be debt free in 5 or 6 years
One affordable monthly payment
No upfront fees for an IVA application
An example of what can be done
Here's a breakdown of Tony's story, who was recommended an IVA.
Unsecured debts
| Personal loan | £12,000 |
| Credit card | £6,000 |
| Store card | £1,600 |
| Council tax | £1,200 |
Total debt: £20,800
With An IVA
| Old monthly payment | £636 |
| New monthly payment | £165 |
| Monthly reduction | £471 |
| Total debt written off | £12,480 |
Percentage of debt written off 60%
Type of debts that can be included in an IVA
Personal loans
Credit card debt
Store card debt
Payday loans
Catalogues
Debt collectors
Old car finance
Council tax arrears
Old utility bills
Mortgage shortfall
HMRC debt
CCJs & Defaults
What is an IVA?
An individual voluntary arrangement (IVA) is a formal agreement between you and your creditors that can help you repay your debts at an affordable amount.
IVAs are legally binding agreements that can help you deal with your debts. You can only get an IVA with the help of an insolvency practitioner (IP).
With an IVA you put forward an offer of payments on your debts to your creditors. This will be based on what you can afford. If you have an IVA, your payments towards your debts can be made through either a one-off payment, known as a lump sum IVA, or a 60 or 72 month repayment plan.
