An Individual Voluntary Arrangement (IVA) is an alternative to bankruptcy.
If you have a substantial amount of unsecured debt (usually £15,000 or more) an IVA could be your best solution.
With an IVA you could:
- Be debt free in just 60 months
- Freeze interest and charges
- Protect yourself from creditors
- Have one lower, affordable monthly payment
- Avoid bankruptcy
IVAs were established by government legislation and can only be set up by licensed Insolvency Practitioners. As a licensed Insolvency Practitioner we can negotiate a legally binding agreement between you and your creditors, freezing interest charges on your debt and setting an affordable monthly payment amount over an agreed fixed period (usually 5 years).
Further benefits of an IVA are:
- All information is dealt with in the strictest of confidence
- When the IVA is completed any unpaid debt is written off
- No publicity of information
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