Total debts (approx)   
Monthly debt repayments   
Your name   
Your telephone number   
Your email address   
privacy Private & Confidential   

IVA | Individual Voluntary Arrangement

If you are struggling with debts an IVA (Individual Voluntary Arrangement) could help you. It is a debt solution which allows you to lower your monthly payments to what you can afford, instead of your agreed contractual payments.

The IVA was introduced to allow over indebted individuals to agree a payment structure with lenders offering protection from bankruptcy, fines and court judgements. It is considered as a better alternative to Bankruptcy, for both you and your lenders. Every month thousands of people sign up for an IVA with their lenders.

In an IVA you make one monthly payment that you can afford (based on your income and living costs). You make this monthly payment for a fixed period of time (usually 5 years). After your payment plan is complete your creditors will legally write off any remaining unpaid debts. Every IVA is different so any actual debt write off will be entirely based on your debt and affordability.

The IVA has many advantages but it also has a number of disadvantages that should be considered. For example, if you are a homeowner and you have equity you may be required to offer some of this equity to your creditors or you may have to offer up to 12 additional payments towards the IVA. Your credit rating may also be impacted for up to 6 years from the start of your IVA. Read more advantages and disadvantages below.

If you are struggling with your debts an IVA could be a suitable option for you. Speak to one of our advisors to find out more.

Is an IVA with Debt Solutions the right choice for you?

An IVA could be the right choice for you if you:

An Example of how an IVA works

IVA Example

In the above example the contractual payments before entering the IVA were £420 per month which was unaffordable to the applicant. After the IVA was in place, the applicant made payments of £220 per month for 60 months. Total repaid was £13,200, with the remaining unpaid £8,800 being legally written off at the end of the 60 month term.


Benefits of an IVA

Disadvantages of an IVA


NOTE: In an IVA you will have an agreed budget for your living costs. There are allowances for this in the agreement. These expenses will be mostly based in what you currently have to pay out each month. You should declare all normal monthly expenses to your creditors so they understand your situation more clearly. There may be some restriction on some expenditure items, such as mobile phone for example.


To find out more about IVAs contact us Debt Solutions

If you cannot find out the information you need on IVAs in our website, you can chat online to one of our debt advisors who know everything you need about the IVA. We will be happy to help you find the perfect debt solution for your circumstances.

IVA Links is part of National Debt Relief - Free and Confidential Advice

A fee is only payable where further services are requested. All fees will be explained in detail and discussed prior to commencement of any service or debt repayment plan. In the IVA our fees are included in your monthly payment to your creditors so you will not have to pay anymore than you can afford.  More suitable debt solutions may be offered which may result in different fees applying and we will discuss those with you during your initial consultation. Read further information. Creditors may still contact you with promotional material or to fulfil contractual obligations to you but they should deal with us in all aspects relating to the outstanding debts.
Acceptance of your IVA cannot be guaranteed but we will do our best. You must meet certain criteria which will be discussed with National Debt Relief advisors. Where we put a client forward for an IVA we believe they have an excellent chance of being accepted. Debts will only be written off where a client has made an agreed payment for a fixed period. In return the creditors agree to write off the remaining balance. Typically, our clients average debt write off is between 60-70% of the debt. What debt you have written off will depend on your individual circumstances and is subject to creditor approval and completion of the IVA. Your credit rating may be impacted for up to six years from the commencement of you IVA. Homeowners may be required to introduce equity if available.

Phonecalls: Calls from a landline are normally free. Please consult your provider if you are unsure. Calls from a mobile may be subject to charges. If you get charged just ask us to call you back for free.