Individual Voluntary Arrangement (IVA)
An IVA is a legally binding arrangement made between you and your creditors to pay off your debts with a repayment plan that suits your circumstances.
Here, you’ll find all the information you need about IVAs, including how they work, their benefits, and important considerations.
We have supported 11,300+ individuals on their journey to financial well-being, and we can help you too.
IVA Meaning
An IVA or Individual Voluntary Arrangement is a contract with creditors, which allows you to repay the debts in regular instalments.
Once you enter an IVA, creditors can take no further action against you and won’t be able to contact you directly. All contact will go through your Insolvency Practitioner (IP) or a debt management company, who will provide you with debt advice before reviewing the options available to you.
If you’re considering an IVA, let us help you take the first step toward managing your debt. Contact us today for tailored advice and find out if an IVA is right for you.
Who qualifies for an IVA?
To qualify for an IVA an individual must have three or more creditors, and larger debts typically over £6,500.
You’ll make your payments to the insolvency practitioner. They’ll keep some of this to pay their fees and split the rest between your creditors. If the payments you make aren’t enough to pay your debts in full by the end of your IVA, you won’t have to pay the rest.
That means you will no longer be responsible for it, and can move on with your financial life.
We have supported 11,300+ individuals on their journey towards financial well-being.
Talk to an IVA Specialist Now:
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Call us – 0161 768 8403
Email us – Enquiries@advicecentregroup.co.uk
You can visit the Money Helper website to find out more about managing your money and to get free advice, they are an independent service set up to help people manage their money
Advice Centre Group Ltd registered in England and Wales (14322979). Registered office: Second Floor A, Cheadle Place, Cheadle, Cheshire, England, SK8 2JX.
Adam Southard is authorised as a Licensed Insolvency Practitioner in the United Kingdom by the Insolvency Practitioners Association, We only provide advice after completing or receiving an initial fact find where the individual(s) concerned meet the criteria for one of our insolvency solutions, therefore, all advice regarding Individual Voluntary Arrangements (IVA) is given in reasonable contemplation of an insolvency appointment.
Adam Southard is licensed to act as an Insolvency Practitioner in the UK by the Insolvency Practitioners Association. Office Holder No. 11930
Insolvency Practitioner Directory- Insolvency Practitioner Details (bis.gov.uk)
What you need to know about Individual Voluntary Arrangements
(Insolvency Service)
We provide solutions to individuals throughout the UK, We Will help recommend solutions available to your circumstances in which you can then make an informed decision about which solution you qualify for is best for you and your circumstances.