Is an IVA right for you?

The IVA Advisory Centre offer advice about IVAs and other solutions for people with all kinds of financial problems.

Our team of specialists are here to help answer any questions about IVAs. You can call our helpline on 0800 970 5489 for help right away.

Find out if an IVA is right for you

Discover the options available to you by filling in a few details about yourself and your debts

Tell us your situation

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Please remember this is just an information tool
We would always recommend you speak to a debt adviser for the most appropriate way to resolve your debt problems. Call our experts on 0800 970 5489 (mobile calls may be cheaper on 0161 605 4826).

Why choose an IVA to tackle your debts?

An IVA (Individual Voluntary Arrangement) could be your way out of unmanageable debt without declaring yourself bankrupt. With an IVA you could:

• Repay your unsecured debts without the need for a loan
• Have one repayment tailored to your circumstances
• Potentially freeze interest and charges
• Deal with your creditors on your behalf

If you enter an IVA, your monthly payments will drop down to a level you can afford after you've taken your essential bills into account.

It would stop your lenders taking legal action against, including trying to make you bankrupt. And it should keep you in your house, since you wouldn't feel forced to use your mortgage/rent money to keep up with your unsecured debts.

What's more, it'll give you a clear path to a debt-free life in just 5 years (in most cases): as soon as your IVA comes to a successful close, your lenders would write off the unsecured debt you couldn't afford to repay in that time.

Who are IVA Advisory Centre?

IVA Advisory Centre are part of the Think Money Group, one of the largest and longest-established debt specialists in the UK. We’ve been recognised many times as a first-rate provider of financial services and debt advice. To find out more click here.

Speak to our IVA team on 0800 970 5489.
Alternatively, have an IVA adviser call you back click here.

Key information:

What fees are involved?
Once you've discussed your situation with one of our advisers, they may recommend that you enter a specific debt solution. Should you do so, fees will be charged. As one of the UK's longest-established debt solution providers, we are committed to providing an excellent service - and charging competitive fees. Click here for more on our fees.

Will my credit rating be affected?
Entering an IVA will affect your ability to obtain credit for 6 years. However, IVAs are only an option for people who are facing serious debt problems - so whatever approach you now take, your rating is certain to be affected. An IVA could be the best way to minimise the effect - as six years after it starts, your IVA and your debts would be gone from your credit report.

What if I change my mind?
You are not under any obligation to enter a debt solution. Should you decide to do so - and subsequently change your mind - you will have the right to cancel the agreement at any point during the first 14 days of accepting the terms of engagement and claim a full refund of any fees you’ve paid us. Remember, IVAs are legally binding and once approved do not have a "14 day cancellation" period.

Download our Insolvency Service guide to dealing with creditors click here.

Subject to eligibility and conditions. Repaying debt over a longer period may increase the total amount to be repaid but alternative solutions may be offered. Debt write-off applies to unsecured debts only on completion of an Individual Voluntary Arrangement. Fees are payable and homeowners may be required to remortgage during the term. Calls may be recorded.

Latest news

IVAs for Ireland?
It might not be called an IVA / Individual Voluntary Arrangement, but the new form of debt settlement arrangement being introduced in Ireland certainly looks similar. The Irish Times supplies a useful summary of how these Irish 'IVAs' should work. Let's take a look at the similarities... Read more

New approach to bankruptcy in Ireland
In England, Wales and Northern Ireland, people with serious debt problems might be able to enter an IVA (Individual Voluntary Arrangement) , a DRO (Debt Relief Order) or bankruptcy to deal with their debts. In the Republic of Ireland, there aren't so many options - but the rules about... Read more

VAT exemption for Trust Deeds & IVAs
After a 'landmark court ruling', Protected Trust Deeds, like IVAs, have been declared to be exempt from VAT, credittoday.co.uk reports. After a judge ruled that IVAs were exempted from VAT, the Institute of Chartered Accountants in Scotland (ICAS) 'sought clarity' on whether or not VAT should apply... Read more

IVA Advisory Centre Guides

• Is an IVA right for me?
• IVA pros and cons
• IVA and bankruptcy

• Pay off debt
• IVA - the process
• How long is an IVA?

• IVAs - the 'top ten' facts
• What does an IVA cost?
• IVA UK

• Personal bankruptcy
• Bankruptcy advice
• Bankruptcy information