An Individual Voluntary Arrangement (IVA) is a formal agreement which allows you to make one affordable payment towards your unsecured debts. An IVA normally lasts for 5 or 6 years.
At the end of the IVA any unsecured debts included in the IVA are written off. Check if you qualify for an IVA.
You must use an Insolvency Practitioner to propose an IVA to your creditors.
Your Insolvency Practitioner works out what you can afford to repay towards your debts. They will then prepare a proposal for your creditors, You will need to provide details of your financial situation, including assets, debts and income.
For an IVA to be accepted, 75% in value of the creditors who vote will have to approve the IVA, we can check to see if you have the right debts to qualify.
There are no upfront fees and the following fees will only be charged if your IVA is approved:
Designed to put you back on track
Help if your debts are over £5,000. An IVA can help clear up to 81% of unaffordable debts
Help if you have debts of £2,000 or more. Reduce monthly paymentsMore info
Help if you have little or no disposable incomeMore info
For those with little spare income and low value assetsMore info
Money Helper is an important service set up by the Government. They provide free debt counseling, debt adjustment and credit information.
We specialise in providing and administering Individual Voluntary Arrangement (“IVA”) solutions to individuals based in England, Wales and Northern Ireland. We do not administer Debt Management Plans, Debt Relief Orders, or any other debt solutions.
Sarah North is authorised in the UK to act as Insolvency Practitioner by the Insolvency Practitioners Association
Registered Address: Sandfold House, Sandfold Lane, Levenshulme, M19 3BJ. Tel: 01625 801007.
We only provide advice after completing or receiving an initial fact find where the individual(s) concerned meets the criteria for an IVA, therefore, all advice is given in reasonable contemplation of an insolvency appointment.
We are a fully licensed and regulated insolvency practice specialising in the provision of Individual Voluntary Arrangements (IVA’s). In 2020 we helped over 500 people successfully enter an IVA and supported a further 2,700 people by referring them to a fee free or charitable debt advice service provider.
*The amount of debt write off is based on your own personal circumstances.
As of 28th September 2021, 37% of customers are estimated to write off 81% or more of unsecured debts included in the IVA.