An IVA is a formal debt solution for people with unsecured debts they are struggling to maintain, that want or need to avoid being declared bankrupt by their creditors.
During the IVA you make one affordable monthly payment typically for 60 months. At the end of the term any debt you still owe are written off.
An IVA is a legally binding agreement so once entered, your creditors can’t back out or change the terms after they agree to them.
Please note entering into an IVA will affect your credit rating for 72 months
Some of the things the lenders will have to abide by are the following:
Complete our 30 second online form to see if you qualify for an IVA. Or you can call us directly on 01565 325 030.
At a time that suits you, one of our friendly, experienced advisors will contact you to discuss your options. This is 100% free and confidential.
If an IVA is the best solution for you, we can start the ball rolling whenever you’re ready. We will help along the way until you become debt free!
A solution for people with debts over £5,000. An IVA could help you write-off up to 90%* of your outstanding debts and pay one affordable monthly payment.Find out more
Consolidate your debts to make them much more affordable. Debt repayments can be spread out over a longer period to help you manage your finances more effectively.Find out more
A Debt Management Plan or DMP, is an informal agreement to pay back non-priority debts, reducing your monthly payments to a single affordable amount each month.Find out more
Bankruptcy is a formal debt solution for people with debts they cannot repay. It’s often viewed as a last resort but can be a great solution for people without the means to repay debts.Find out more
Customers can get free debt counselling, debt adjusting and providing of credit information services from the Money Advice Service – an organisation set up by the Government to offer free and impartial advice to those in debt. For more information from the Money Advice Service click here www.moneyadviceservice.org.uk You can find. Government guidance on dealing with your creditors here.