Benefits of an IVA

An Individual Voluntary Arrangement offers significant advantages over other debt solutions. Here's how it could help you.

Freeze Interest & Charges

Once your IVA is approved, all interest and charges on included debts are frozen. Your debt stops growing.

Creditors cannot contact you, take legal action, or send bailiffs once the IVA is in place.

Unlike bankruptcy, you can usually keep your home and other assets throughout the arrangement.

At the end of the IVA, any remaining unsecured debt included in the arrangement is legally written off - often up to 85%.

Your monthly payment is calculated based on what you can realistically afford after essential living costs.

An IVA typically runs for 5-6 years, giving you a fixed timeline and a definite end to your debt.

While an IVA has many advantages, it's important to understand the full picture:

An IVA will appear on your credit file for 6 years from the start date.
You must keep up with your agreed monthly payments - failure to do so could cause the IVA to fail.
Your IVA will be recorded on the Individual Insolvency Register, which is a public record.
Not all debts can be included (e.g. secured debts like mortgages, student loans, court fines).