Individual Voluntary
Arrangement (IVA)

Individual Voluntary
Arrangement (IVA)

  • Up to 80% debt write off
  • Stop lender contact
  • Freeze interest & charges

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.

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, 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

What is an IVA?

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.

Get started

How does an IVA work?

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.

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.

Get started

Do I qualify for an IVA?

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.

Get started

Get debt help now

Complete the online form and one of our friendly advisors will call you to discuss your options.

Get started

Answer a few online questions so we can find the most suitable debt solution for you.

Talk to an expert

Speak to an advisor so we can help reduce your payments and set everything up.

Take back control

Continue with the professionals on your side until you are debt free!

Is an IVA right for me?

As with any insolvency process there are consequences of entering into an IVA.

The IVA will appear and have an effect on your credit file for 6 years.

If you are a homeowner you may be required to release equity in the final year of the IVA, your remortgage may be on less favourable terms. If unable to remortgage, you may need to make additional payments for 12 months.

Lenders are not obliged to accept your IVA and you are at risk of Bankruptcy if your IVA fails.

Details of your IVA will appear on the Individual Insolvency Register (IIR).

There may be restrictions on your expenditure throughout the term of your IVA.

Fees are payable if ongoing services are provided, read about Fees and Key Information here.

For more help and advice, visit the Money Advice Service, an independent service set up to help people manage their money. Or find out more about the different options for paying off your debt here. DROs, Bankruptcy & IVAs are not available in Scotland.

Fantastic...

Fantastic service right from day one. Even when I've struggled there's always been a friendly voice at the end of the phone to support me. Harrington Brooks are a fantastic way to get back on track. If you're having problems with debt, give them a call!

Get debt help now

Complete the online form and one of our friendly advisors will call you to discuss your options.

Get started

Answer a few online questions so we can find the most suitable debt solution for you.

Talk to an expert

Speak to an advisor so we can help reduce your payments and set everything up.

Take back control

Continue with the professionals on your side until you are debt free!

Real people, real stories

Paul works in recruitment. He was £40,288 in debt from loans and credit cards and wanted to consolidate his debts as he wasn’t able to keep on top of his payments. He was recommended an IVA and was able to get debt free.

Figures based on actual an actual customer who consolidated their debts with an IVA. Alternative debt solutions may be offered. IVAs are available subject to eligibility and acceptance, alternative solutions may be offered.

Paul's total
unsecured debt £40,288

We helped to
write off £30,689

75%

of Paul's debt was written off

Real people, real stories

How we’ve helped 1000s of people build a brighter future.

Paul works in recruitment. He was £40,288 in debt from loans and credit cards and wanted to consolidate his debts as he wasn’t able to keep on top of his payments. He was recommended an IVA and was able to get debt free.

Figures based on actual an actual customer who consolidated their debts with an IVA. Alternative debt solutions may be offered. IVAs are available subject to eligibility and acceptance, alternative solutions may be offered.

Paul's total
unsecured debt £40,288

We helped to
write off £30,689

75%

of Paul's debt was written off

Get started

Get debt help now

Complete the form and one of our friendly and confidential advisors will call
you back to discuss the way forward.

  • Completely anonymous
  • Free eligibility check

What is your Debt Level?

£4000

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