What is an IVA?

An IVA stands for an Individual Voluntary Arrangement. It is a Formal arrangement set out between you and the unsecured creditors, (credit cards, loans, store cards, catalogues etc). You will make affordable monthly payments, usually over 5 or 6 years, after which the debts included in your IVA will be cleared. An IVA can only be set up by a certified IP (Insolvency Practitioner). The IP will deal directly with your creditors and support you for the full 60 month period.

Start your debt free journey today. Any debts that have not been fully paid off, will be wiped off. In some cases up to 85% can be written off.


  • Repay your debts in 5 years


  • Potentially Write OFF up to 85% of your debt


  • Only one monthly payment


  • Avoid your home being repossessed


  • Stop creditors from contacting you


  • Pay only what you can afford

Become debt free with an Approved

IVA Program Today!

Some Disadvantages of an IVA

  • If you do not adhere to the terms of your IVA you may face Bankruptcy
  • Your credit file will be adversely affected for 6 years from the date that your IVA is accepted
  • You may be unable to obtain further credit while the agreement is in place
  • You may be required to remortgage to release equity in your property
  • Any large or valuable assets may have to be sold to release their value

Debts you can include in an IVA

An IVA can include the following types of debts

  • Credit cards
  • Bank & building society loans
  • Overdrafts
  • Store cards
  • Personal loans
  • Charge cards
  • Catalogues
  • Council tax arrears
  • Tax debts
  • Electricity and gas debts

You will be contacted by an FCA Licensed company or a licensed Insolvency Practitioner, they will provide you with expert debt advice and all solutions will be explained to you. To find out more about managing your money and getting free debt advice, visit Money Advice Service, an independent service set up to help people manage their money.

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