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For debts over £15,000
An Individual Voluntary Arrangement (IVA) is a legally binding agreement between the client and a creditor. The arrangement allows you to pay what you can afford into the IVA each month for a period usually no longer than five years, after the five year period is finished the rest of the debt is written off. If you owe more than £5000 of unsecured debt you may qualify for this solution.

Take the Free IVA Test. See if you qualify!
Will I lose my house on an IVA? No. As long as you maintain your monthly rent/mortgage payments you will not lose your house, your personal advisor will budget that you have enough money to pay all your every day bills such as rent council tax, shopping etc when working out a comfortable payment for you to pay into the IVA.
Will my creditors accept my IVA? The decision of the IVA being successful or not will be decided by your creditors, we arrange a meeting once drafted your IVA proposal. Creditors tend not to attend the meeting anymore, we arrange a date and time with the creditors for the meeting to take place, we then fax the proposals over and await their votes. As long as a minimum 75% of the total debt agrees then the IVA is accepted.
What if the creditors don't accept my IVA?
The vast majority of the IVA’s that we put forward are accepted, our experienced advisors are trained into looking for any potential problems in your propsosal and this is key when getting your IVA accepted. If your IVA is not accepted we have a various other solutions we can help you with.

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Advantages of an IVA.
  • Protection from Bankruptcy
  • All unsecured debt that you are unable to pay is written off
  • One affordable monthly payment
  • Protection from creditor hassle
  • Give you a finish line to clear your debts


  • Your IVA will have an adverse effect on your credit file, credit reference agencies will be able to see your IVA as it will be entered on to a public insolvency register(link this to
  • There are restrictions in obtaining credit whilst in an IVA
  • Debt write off and the freezing of interest and charges only applies on the successful completion of an IVA

Points To Consider

  • If the arrangement or deed fails there is a risk of being made bankrupt
  • Homeowners may need to release equity from the value of their home to pay off debts, and re-mortgage may attract a higher rate of interest
  • If no re-mortgage is available your individual voluntary arrangement may be extended for a further 12 months
  • Lenders or owners may not approve the individual voluntary arrangement or the protected trusted deed.
  • Only unsecured debts included in the individual voluntary arrangement or protected trust deed may be discharged at the end of the period and unsecured debt debts not included remain outstanding
  • An IVA(individual Voluntary Arrangement) is subject to creditor acceptance. Debt Write off only applies to unsecured debts and on completion of the IVA
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