Individual Voluntary Debt Arrangement
Individual Voluntary Debt Arrangement
Individual Debt Arrangement
Best Debt Consolidation (Without More Debt!)
Apply For The Best IVA For Your Own Circumstances
An Individual Debt Arrangement, also better known as an IVA or Individual Voluntary Arrangement, is the preferred instrument of insolvency in England and Wales. In Scotland the equivalent instrument is the Protected Trust Deed. Both have proved very popular as compared with the old bankruptcy laws, which are seen as quite draconian by comparison.
An Individual Debt Arrangement puts an end to debt misery by being able to write off the larger part of your total unsecured debt, and this is often a huge chunk. The remainder of the debt is then repaid every month in amounts which are easily affordable.
An Individual Debt Arrangement is prepared on a case by case basis; there is no off-the-peg solution, because each situation is completely different. Any programme like this is designed to cater for your own specific needs. The debt management plan will be drafted by a qualified Insolvency Practitioner and will be designed to be the most efficient and practical plan for you and your associated requirements.
The rules governing who qualifies for an Individual Debt Arrangement do differ, depending on which insolvency service you use. For example, your income needs to exceed your expenditure by a certain amount. This is why our whole-of-market approach is highly useful because it means that everyone gets the type of plan suited to themselves and their households.
Application for an Individual Debt Arrangement is without any obligation to proceed after an initial quote. To see if you are eligible fill in the form below.
If you have at least two accounts in debt, and total debts of £2,000 or more, use the form below to see if you qualify. (If you owe less than this, or are on state benefits, then use this link to apply instead.)
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Please be aware that figures entered need to be accurate by law, and to give the best service to you. It is extremely important that you budget for all necessary expenditure including rent or mortgage, council tax and utility bills, etc., and any other necessary outgoings related to the upkeep of your household and inrelation to any specific circumstances that may relate to you. This website only collects data on behalf of debt management professionals, from which it will receive affiliate remuneration for data collection only and does not itself engage in any debt management services. Other debt management options are available and may be more suitable. People entering into an IVA or debt management will have this entered on their credit profile and this may affect their ability to get credit in the short term or even in the long term in some cases. It is free to apply from this website; you will be given advice by debt management professionals and a 'cooling off' period, by law, to decide whether or not the debt management plan is suitable for you, and you should be aware that a fee will be chargeable upon a successful arrangement, as with any commercial transaction. Failure to meet the repayments on an IVA or any debt management programme may result in serious consequences, including, but not limited to, bankruptcy. Bankruptcies, CCJs and similar defaults will be entered into a public register and will remain there for a statutory period of not less than six (6) years.
Individual Voluntary Debt Arrangement. Consumer Credit Licence number 633327.
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Take a look at the Insolvency Service's leaflet called 'In Debt', downloadable here.
Individual Debt Arrangement
Voluntary Debt Arrangement
Individual Debt Agreement
Voluntary Debt Agreement
Individual Voluntary Debt Arrangement
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