How we could help
Reduce your monthly payments
We could reduce your monthly payments towards your unsecured debts, giving you room for the essentials such as food, clothing, and rent.
We'll deal with your lenders
Once accepted, we'll help to stop the letters, emails, and calls and deal with your lenders on your behalf.
Start to become debt free
Upon successful completion, the debts included in your IVA will be written off.Get started
An Individual Voluntary Arrangement (IVA) is an agreement made with your eligible creditors to address your unsecured debts. You are required to make monthly payments to your arrangement (normally for a period of five years).
Once the IVA successfully completes the remaining debt is written off. Although various types of unsecured debts can be included on an IVA there are some exclusions. Any debts that are not included within an IVA will still need to be paid as normal.
A full review of your financial circumstances will be completed. Should we believe an IVA is the most suitable solution for you we will prepare an IVA proposal. We will present this to your creditors who can vote on whether to reject or accept the proposal.
You will need 75%, by value, of the creditors who vote to vote in favour of the proposal for it to be approved. Following the acceptance of the IVA we will manage contact with your creditors.
During the IVA period you may still receive annual statements from creditors. If the IVA proposal is rejected it may be possible to re-submit the proposal should your circumstances change. Alternatively we can assist you in considering alternative solutions.
You must have a minimum of £6,000 unsecured debts, such as personal loans, credit cards and overdrafts. You must owe at least two creditors and have an available monthly disposable income of at least £80.
A number of debts can be included on an IVA with the exceptions of student loans, court fines, child maintenance arrears and secured debts, although other exclusions may apply.
IVAs are not available in Scotland – see our Protected Trust Deeds section, which is suitable for Scottish residents.