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What is an IVA?

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If you thought you were the only one in serious debt, think again. As debt steadily increases throughout the UK, thousands of people are choosing solutions like an IVA to help them get back in control.

But what is an IVA, exactly?

An Individual Voluntary Arrangement, commonly referred to as an IVA, is a debt solution that helps many people avoid going through the severity of bankruptcy. It's a legally binding agreement with your creditors in which you have the opportunity to freeze your interest rates and make lower repayments.

What happens in an IVA?

An Insolvency Practitioner will help you prepare an IVA proposal, tailored to your financial situation. In order for it to be approved, 75% of your creditors must agree to it. After that, you will no longer have to deal with your creditors; instead you make fixed monthly payments, usually over a five year period. By keeping to the terms, any outstanding debt at the end of the agreement can be written off. After an IVA you will be debt free.

How can I start one?

You can take the next step today. Click to find out how to arrange an IVA and also get some confidential advice to help you get out of debt.

Latest IVA Blog Syndicate content


Although you will have to change your Lifestyle during an IVA. Don’t think that just because you are in the midst of an IVA doesn’t mean you have to miss out on a yearly holiday.


One Saturday afternoon, my partner and I were sitting at home, reading through the local paper. Advertised was a litter of 8 week old kittens, for twenty pounds each. I begged and pleaded with my partner to buy me one of the kittens. He informed me to take into consideration, the costs of owning a pet. I thought to myself, what is twenty pounds and £2.50 a week on food. Never did I think it would be the icing on the cake for my debt