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Individual Voluntary Arrangement
(England, Wales & Northern Ireland only)

  • Lower your monthly payments
  • Freeze all interests and charges
  • Up to 80% of your debt written off
Check If You Qualify

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Why? We need your contact number to advise of the next steps to becoming debt free.

Whats Your Debt Level?

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Here’s an example of what we can do

We consolidate all the debts into one smaller monthly payment which allows you to get back on track.

Unsecured Debts

  • Personal Loan £12,000
  • Credit Card £6,000
  • Store Cards£1,600
  • Council Tax £1,200

Total Debt £20,800

Your Monthly Repayments


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60%Debt Written Off

What is an IVA?

An Individual Voluntary Arrangement (IVA) is a formal arrangement between you and your creditors which allows you to repay your debts at an affordable rate. An IVA is paid over a fixed period of time (usually 5 or 6 years). After this time, any remaining balances will be written off. It's a popular method of debt management for people who can afford smaller monthly repayments.

Your IVA will be managed by a licensed Insolvency Practitioner who will put forward a proposal towards your creditors detailing why you need an IVA and what you can realistically afford to pay. They will negotiate with the creditors on your behalf, creating much less hassle and stress for you.

Check to see if you qualify

After the proposal is signed, a meeting is held with your creditors where they are able to vote on whether to accept, reject or modify the proposals. As long as 75% of voting creditors accept the proposal, the IVA will go ahead.

Once your IVA has been accepted, you will be protected from further collection activity and legal action from your creditors.

Is an IVA right for me?

If you cannot afford to make payments towards your debts as they fall due, then an IVA might be suitable for you. To assess your suitability for an IVA, we will need to have an understanding of your current situation.

Advantages of an IVA

  • An IVA is tailored for you and designed to be affordable.
  • All interest and charges will be frozen from the date of approval.
  • Creditors whose claims are included in the IVA can no longer chase you for payment or pursue legal action.
  • You will receive ongoing support from your Insolvency Practitioner.
  • Upon the completion of your IVA, any remaining balances will be wiped off.
  • If you cannot afford to make payments to your creditors, but there is a lump sum available (perhaps from family) this can be offered to creditors by way of a full and final IVA.

Disadvantages of an IVA

  • If you fail to adhere to the terms of the IVA, your assets and home may be at risk
  • If an IVA fails because you do not maintain the agreement, your creditors can take further action and you could be at risk of bankruptcy.
  • An IVA will show on your credit file and will remain there for 6 years.
  • During the term of the IVA, you will not be able to access further credit without first consulting with your Insolvency Practitioner.

What kinds of debt can be included in an IVA?

Most unsecured debts can be included in an IVA such as:

  • Credit cards and loans
  • Jointly owed debts
  • Monies owed to individuals such as family and friends
  • Debts to HMRC
  • Council tax arrears
  • Utility arrears
  • Arrears to trade suppliers (if you are self-employed)
  • Shortfall from property repossessions
Check to see if you qualify

Debts that cannot be included in an IVA include:

  • Maintenance or child support arrears
  • Student loans
  • Court fines or traffic violation fines

Important Information

All debt solutions should be very carefully considered. Fees will be charged if a solution is taken in order for us to set up your plan and maintain it – all fees will be outlined during your consultation. Retained payment may place you further into arrears. You have the right to a cooling off period of 14 days. It is likely that your ability to obtain further credit in the short term will be affected and this may also be the case over the medium to long term.

There is  free debt help and advice available through a variety of debt charities. For more information, we recommend you visit

Contact Debt Advisory Service

For more information on getting an Individual Voluntary Arrangement, please contact us for debt advice today on 0808 301 9527 or simply fill out our Debt Advice Enquiry Form.