What is an IVA?

An Individual Voluntary Arrangement (IVA) is an agreement with your creditors to pay back what you can afford. Any unaffordable debt is usually written off.

An IVA will give you more control of your assets than bankruptcy.

Submit your answers to the below questions to check if you qualify for debt help.

Step 1 - Your Debt

Total amount you owe (please click below)

Less that £5,000
£5,000 to £20,000
More than £20,000

How does an IVA work?

We will review your financial situation with you to help work out what is affordable. If an IVA is suitable, we can refer you to one of our preferred Insolvency practitioners. The practitioner will put forward a formal proposal with you, if the creditors accept this you are legally protected and creditors can no longer add interest and charges.

Provided you maintain payments, all unpaid debt is written off at the end of the IVA, IVAs normally last for 60 months.


  • One affordable monthly payment made over a fixed period.
  • Unaffordable debt written off.
  • Legal Protection – once your IVA is approved, creditors can not take further action to recover the debt.
  • All interest and charges are frozen
  • The fees charged are taken from the affordable monthly payment you make over the agreed term of the IVA.


  • • For homeowners, a remortgage may be required in the final year of the IVA.
  • • If your circumstances improve during the IVA, increased payments may be requested. However overall circumstances will be reviewed and only a percentage of any increase in income is required.
  • • An IVA is a formal insolvency process and a record of this is held on the insolvency register which is a public register held on the internet.
  • • Failure to comply with the terms of the IVA may lead to the IVA being terminated which means creditors can then pursue you for any unpaid debts including those in the IVA.
  • • If the IVA is terminated, then not all of the payments that you have made will have been paid to your creditors because of the fees of the IVA.
  • • Any assets that you acquire before the end of the IVA must be declared and may be claimed by the Supervisor for the benefit of your creditors.