Struggling with debt? Looking for a way to overcome financial problems? An IVA may be the solution you have been looking for.

For people who have become overwhelmed by debt repayments applying for bankruptcy may appear to be the only answer. There is however an alternative that can be more favourable both to themselves and to their creditors. This alternative is known as an Individual Voluntary Arrangement (IVA).

Individual Voluntary Arrangements were introduced by the UK government as a way for people to overcome personal debt problems without needing to file for bankruptcy. If you would like more information on whether an IVA is suitable for you, or to find out if you actually qualify for an IVA then please continue to browse our site.

For those that qualify entering into an IVA offers a number of advantages over other alternative solutions to debt such as Debt Management or Bankruptcy.

An IVA is a formal agreement made between yourself and your creditors. By entering into an IVA you are setting out terms that will enable you to repay your debts over a fixed period of time. Typically the IVA will last for a period of five years although the exact length of time will vary from case to case. Under the IVA you will make debt repayments based on what they can reasonably afford on your current income. Once the IVA begins all interest being charged on the debt is frozen and at the end of the IVA period any remaining unpaid debt is written off leaving you debt free.

As part of a group of Licensed Insolvency Practitioners we are able to legally prepare and manage your IVA.

Legally Individual Voluntary Arrangements may only be prepared and managed by a Licensed Insolvency Practitioner such as ourselves. As part of our service we are able to provide you with free impartial debt advice to help you find the best solution to your debt problems. To speak to one of our advisors simply call us on freephone 0800 054 50 43 or alternatively complete our enquiry form.