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What is an IVA?
If you are struggling with your debt repayments there is government legislation available, called an IVA, which could help you to write off debt you cannot afford. It is a type of "Debt Forgiveness Program".Under this government initiative you need to show that you cannot afford your debts. This is done by showing that your monthly living costs including debt repayments are more than your monthly income.
You agree to pay a monthly amount that you can afford and at the end of the plan any remaining debt is forgiven and written off. On average, our clients achieve a debt write off between 60-70% of their debt.
 | 1 easily affordable monthly payment based on your income and expenses |
| Unlike some of our competitors, we do not charge any Upfront Fees, saving you £100s |
| An IVA offers you protection from creditors |
| An IVA offers you protection from creditors |
| Creditor pressure stopped as creditors must deal with us |
| Most IVAs last for just 5 years (occasionally longer, although some can last a few months) |
| All interest frozen immediately |
| Suitable for tenants or homeowners, individuals or couples, and even business owners |
| We can setup an IVA in as little as 4 weeks |
| Only 75% of your creditors (by debt balance) need to accept your proposal to make it legal |
In an IVA you will have an agreed budget for your all your living costs. There are allowances made for this in the agreement. These expenses will be mostly based on what you currently have to pay out each month. You should declare all normal monthly expenses to your creditors so they understand your situation more clearly. There may be some restriction on some expenditure items, such as mobile phone for example.
Your IVA payment is what is left after all your living costs have been taken into consideration.
