Understand your position
Your debts, income, expenditure, assets and personal circumstances all matter.
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Clear IVA information. No pressure.
Could an IVA help you deal with your debts?
An Individual Voluntary Arrangement can help some people deal with unaffordable unsecured debt, but it isn't right for everyone. We'll help you understand whether it could be suitable for your circumstances.
Takes around 2 minutes
No obligation
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See whether an IVA may be suitable
1
Tell us roughly how much you owe
2
Answer a few questions about your circumstances
3
Leave your details for our team
Your information comes directly to our insolvency practice. We don't sell your details.
Your enquiry stays with us
We're an insolvency practice, not a lead broker. We don't sell your details.
Clear information
We'll explain the benefits, risks and important considerations of an IVA.
Your circumstances matter
An IVA isn't right for everybody. Suitability depends on your individual circumstances.
MAKING THINGS CLEARER
When debts become difficult to manage, understanding your options is the first step.
Owing money to several creditors can become difficult to keep on top of, particularly when your normal living costs also need to be paid.
An IVA can provide a structured way of dealing with qualifying unsecured debts in the right circumstances. But before deciding anything, it is important to understand your financial position and consider the alternatives available to you.
What makes an IVA suitable?IVA EXPLAINED
What is an IVA?
An Individual Voluntary Arrangement (IVA) is a formal, legally binding agreement between you and your creditors to deal with qualifying debts under agreed terms. It is arranged and supervised by a licensed Insolvency Practitioner.
An IVA usually involves making affordable contributions over an agreed period. If you complete it successfully, remaining qualifying debts included in the arrangement are dealt with under its terms. It can affect your credit record, and other debt solutions may be more suitable.
Read how an IVA worksUNDERSTANDING IVAs
A structured way to deal with unaffordable debt.
An IVA is a formal agreement between you and your creditors. You make agreed payments towards your debts, usually over a fixed period, and if the arrangement is successfully completed, remaining qualifying debt is written off.
Consider your options
An IVA is only one way of dealing with debt. Other solutions may be more appropriate.
Make an informed decision
Understand how an IVA works and the commitments involved before deciding whether to proceed.
COULD AN IVA BE SUITABLE?
It depends on more than how much you owe.
Your debt level matters, but so do your income, living costs, assets, creditors and personal circumstances. That's why we'd rather ask a few questions than promise something before understanding your situation.
Learn about IVA suitabilityOur short suitability check is a good place to start.
It won't commit you to anything. It simply gives our team some basic information so we can understand your circumstances when we speak with you.
Check my circumstancesAn IVA will affect your credit rating.
Your IVA is recorded on a public insolvency register while it is active and usually for a period afterwards.
You must keep up with the agreed terms of the arrangement.
Homeowners may have additional obligations relating to equity in their property.
COMMON QUESTIONS
Questions about IVAs, answered clearly.
These are general answers, not a recommendation for your individual circumstances.
What is an IVA?
An Individual Voluntary Arrangement (IVA) is a formal agreement with creditors to repay qualifying debts under agreed terms. It is supervised by a licensed Insolvency Practitioner and is not suitable for everyone.
Will an IVA affect my credit rating?
Yes. An IVA adversely affects your credit record and is normally recorded on your credit file for six years from the start date. It also appears on the public Individual Insolvency Register while it is active and usually for a period afterwards.
Can I keep my home if I enter an IVA?
Homeowners can sometimes enter an IVA and keep their home, but property equity can affect the proposed terms and may create additional obligations. Your individual circumstances need careful consideration.
Are there alternatives to an IVA?
Yes. Depending on your circumstances, alternatives may include a debt management plan, Debt Relief Order, bankruptcy or informal arrangements with creditors. The most appropriate option depends on your financial position.
A GOOD PLACE TO START
Not sure whether an IVA is right for you?
That's exactly what our suitability check is for. Tell us a little about your circumstances and our team can help you understand what happens next.