Become debt free in 60 months, freeze charges and interest, stop creditors from hassling you with an Individual Voluntary Arrangement (IVA).

What Is An IVA?
An IVA is a formal agreement between your creditors and you to repay an amount you can afford to pay off your debts. These agreements are legal and a very powerful tool to help get you back to financial stability. For those who have taken on more debt than they can repay and are struggling with even their minimum monthly payments, an IVA was designed just for their situations. Usually, the repayment period for an IVA is five years (60 months). For this entire period, you will have to pay certain amount per month, and when the 60 months are over, your creditors are obliged by law to cancel any of your remaining debts.

Are All Charges And Interest Frozen?
Yes. When you have agreed to an IVA, all charges and interest are frozen and your creditors will take no action against you.

What Are The Setup Costs?
Zero. IVAs are not designed to increase your debt, but to get you out of it! You will only be asked to pay an amount that your Insolvency Practitioner and you have agreed upon, according to how much you can pay each month. This is the only amount you will be expected to pay---plus equity, if it applies. In order for your IVA Company to have their management fees paid for the arrangements, your creditors are actually agreeing to take less than the amount owed. Before committing to an Individual Voluntary Arrangement there is exceptions to these rules that you should know. You could be liable to pay an extra amount toward your Insolvency Practitioner 's fee if you receive an unexpected lump-sum of money, or if the value of your home increases.

How Long Will The Setup Take?
Usually within two to four weeks most IVAs can be drafted. They are then sent to all your creditors, which can take another two weeks for their approval. By law, your creditors are not allowed to make any contact with you after an IVA is setup. This will give you peace of mind, knowing you do not have to deal with creditors anymore. All you do is make the payment you agreed to for 60 months - the usual period. When this period expires, any debts that remain are forgiven and you are debt free.

How Can I Apply?
You may complete the form right here or call us at 0800 043 2027. Our experienced advisors stand ready to help you with a "no obligation" quote. They will help you to determine a monthly payment that you can comfortably afford, and explain the entire process. We will then send all documents to you for your review. We can begin to process your agreement as soon as we receive your paperwork that you have returned.

*The typical period for an IVA is 60months, although depending on affordability could be taken over a longer period.